NICE Ltd. (NICE) is a provider of both cloud and on-premises enterprise software solutions, but I don't want to discuss the fundamentals of this firm as that is above my pay grade. I want to review the charts and indicators this morning to check on the trends and patterns.
In the daily bar chart of NICE, below, we can see that prices have been trending higher since August. NICE is above the rising 50-day moving average line and the rising 200-day line. The volume pattern has been uneven and hard to interpret but the daily On-Balance-Volume (OBV) line has been rising the past 10 months and suggests that buyers of NICE have been more aggressive.
The trend-following Moving Average Convergence Divergence (MACD) oscillator has been above the zero line for much of the past year and is currently poised to cross to the downside for a possible take profits sell signal.
In this weekly bar chart of NICE, below, we can see that prices have nearly doubled from their last 2015 lows. NICE is above the rising 40-week moving average line. The weekly OBV line turned up from July of last year and it is close to making a new high for the move up. The weekly MACD oscillator is in a bullish configuration and recently generated a fresh outright go long signal.
In this Point and Figure chart of NICE, below, we can see the durable uptrend since late 2015. The next potential upside price target is $116.
Bottom line: If you are long NICE I would hold using a $99 sell stop. If you are looking to go long NICE I do not expect much of a decline or correction so traders should consider going long around current levels risking to $99. The $116-$120 area would be my upside target zone.