Now that SPLK has rallied to over $100 a fresh appraisal is certainly needed.
In this updated daily bar chart of SPLK, below, we can see that both the 50-day moving average line and the 200-day average line have positive slopes. Prices have been testing the rising 50-day line since late March. The daily On-Balance-Volume (OBV) line has been rising since June and tells us that buyers of SPLK have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line and narrowing towards a possible bullish crossover.
In this weekly chart of SPLK, below, we can see that prices broke out of their long sideways trading range and prices really started to move sharply higher above $70. Prices are above the rising 40-week moving average line. The weekly OBV line shows just a dip in March but does not reverse the strong rise from June. The weekly MACD oscillator just crossed to the downside for a take profits sell signal but that signal looks like it came late.
In this Point and Figure chart of SPLK, below, we can see a strong uptrend and a potential price target of $125. A trade at $102 will be a small double top breakout and could start a fresh rally for SPLK.
Bottom line: SPLK is in a strong uptrend without bearish divergences. We have a longer-term price target of $125 now and traders could go long SPLK above $102, risking below $95 and looking for gains to $125 or higher.