Callers during the Mad Money "Lightning Round" segment Monday evening got a chance to ask Jim Cramer about stocks they are interested in. One caller asked Cramer about Ping Identity Holding Corp. (PING) : "I say buy, buy, buy." PING is a leader in identity defined security which has become more important as people and companies move to the cloud and go mobile.
Let's check out the charts of PING.
In this daily bar chart of PING, below, we can see all the price action from September when the company went public. Prices are trading above the rising 50-day moving average line but we do not yet have enough price history for a 200-day line.
The daily On-Balance-Volume (OBV) line has been moving higher from early April and tells us that buyers of PING have been more aggressive.
The Moving Average Convergence Divergence (MACD) oscillator crossed above the zero line in the middle of April for an outright long signal.
In this daily Point and Figure chart of PING, below, we can see that prices have reached and exceeded the calculated price target of $27.50.
In this weekly Point and Figure chart of PING, below, we can see a potential upside price target of $42.50.
Bottom line strategy: The charts of PING look promising. Aggressive traders could go long PING at current levels risking a close below $24 for now. The low $40s is our price target for now.