HubSpot (HUBS) is poised to make new highs. Jim Cramer mentioned the stock and the cloud group last night during his "Mad Money" program.
In this daily bar chart of HUBS, below, we can see a bullish alignment of prices and indicators. HUBS rallied to a September peak and then corrected until late December. Prices quickly rallied back towards the September zenith the next few weeks. HUBS is above the rising 50-day and the bullish 200-day moving average line.
The daily On-Balance-Volume (OBV) line shows a bullish rise to a September high followed by a shallow decline and a fresh rise back to the highs. The OBV line should soon make a new high to confirm the new price highs I anticipate for HUBS.
The Moving Average Convergence Divergence (MACD) oscillator is in a bullish configuration - rising and above the zero line.
In this weekly MACD oscillator, below, we can see that prices have more than tripled over the past three years. HUBS is above the rising 40-week moving average line.
The weekly OBV line shows a general rising pattern the past three years and it is now close to new highs.
The weekly MACD oscillator gave a fresh outright buy signal in January.
In this Point and Figure chart of HUBS, below, we can see that a trade at $160.21 will be a double top breakout. A price target of $183.36 is being projected. A trade at $163.43 will be another breakout.
Bottom line strategy: HUBS is ready to make new highs. Traders and investors can buy it here and they can buy it higher. Risk a close below $149 and look for gains to the $183 area and then $200 - the round number.
