• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Stocks

Citrix Systems Continues to Rally and This Could Be Just the Start

Our updated analysis and strategy on this 'work at home stock.'
By BRUCE KAMICH
Mar 26, 2020 | 03:20 PM EDT
Stocks quotes in this article: CTXS

We recently wrote about Citrix Systems Inc. (CTXS)  where we recommended, "Working remotely could be the new normal and that could go a long way to explaining the rally in CTXS. Traders could go long CTXS on any dip towards $135, risking below $120, looking for gains to the $213 area."

Let's look at two current charts of CTXS. 

In the updated daily bar chart of CTXS, below, we can see that prices are close to making a new high close for the move up. Prices are above the rising 50-day moving average line and the rising 200-day moving average line.

Trading volume has increased this month and the On-Balance-Volume (OBV) line is close to making a new high for the move up. The Moving Average Convergence Divergence (MACD) oscillator continues in a bullish pattern.  

 
In this updated daily Point and Figure chart of CTXS, below, we can still see the potential upside price target of $213 and also that a trade at $142.18 will be a new high for the move up and should refresh the uptrend. A longer-term price target of $290 can be found on other Point and Figure charts (not shown). 
 
 
 
Bottom-line strategy: Continue to trade/invest in CTXS from the long side. Our initial price target is $213 and $290 is our potential longer-term price objective. 
 
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Stocks | Technical Analysis | Technology | Coronavirus

More from Stocks

4 Reasons to Be Cautiously Optimistic About the Tech Sector

Eric Jhonsa
May 25, 2022 5:15 PM EDT

Many tech valuations are now back to 2016 or 2017 levels, and quite a few contrarian indicators point to extreme bearishness.

Forget Hunting for a Bottom, Now Traders Just Want the Pain to Stop

James "Rev Shark" DePorre
May 25, 2022 4:36 PM EDT

No one trusts a bounce to last at this point, and they simply are hoping for some relief from the unpleasant action.

As Pioneer Natural Resources Blazes a Trail Higher, We Have New Price Targets

Bruce Kamich
May 25, 2022 2:50 PM EDT

Here's our updated bullish strategy on PXD.

Sell the Rumor and Buy the News on Dick's Sporting Goods

Bruce Kamich
May 25, 2022 12:24 PM EDT

Wednesday's down to up move makes trading decisions more complex.

Toll Brothers: We're Going to Need a Bigger Base

Bruce Kamich
May 25, 2022 11:36 AM EDT

The homebuilder's charts need more base building for me to get more constructive.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 11:33 AM EDT PETER TCHIR

    Thoughts Ahead of the Fed Minutes

    Recent economic and earnings issues are convincing...
  • 02:24 PM EDT PAUL PRICE

    An Interesting Chart

    I'm betting heavily that stocks will be way up aga...
  • 10:10 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    "Market Timing for Dummies"
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login