Durand explained that Ping provides identity management services for 60 of the Fortune 100 companies, allowing employees to access their company's network from any device no matter where they are.
Ping provides customers with mission critical functionality as well as the tools they need to secure and manage their network assets.
Let's check out some secure charts.
In this daily candlestick chart of PING, below, we can see that prices have been seeing buying interest, a.k.a. support, around $23. Prices are above the rising 50-day moving average line.
The trading volume has been increasing this month and the Moving Average Convergence Divergence (MACD) oscillator is above the zero line in positive territory and starting to narrow towards a new buy signal.
In this first Point and Figure chart of PING, below, we used daily price data and a traditional even dollar amount for the scaling. We can see that $23 is acting as support and that prices have reached an upside price target of $27.50. A trade at $30 will be an upside breakout and should open the way to further gains.
In this second Point and Figure chart of PING, below, we used weekly price data. Here we can see the same breakout level of $30 but also a possible $42.50 price target.
Bottom line strategy: We don't have a lot of price history to work with on PING but aggressive traders could go long risking below the $23 support. Buy some here and add above $30. $42 is our price target.