For his second "Executive Decision" segment of Mad Money Wednesday evening, Jim Cramer sat down with David Meredith, CEO of Everbridge Inc. (EVBG) , the critical event management company that saw its shares surge 13.4% Wednesday on strong earnings.
Meredith said that Everbridge's mission is to keep people safe and get businesses open faster when critical events happen.
Everbridge's network has been busy in recent weeks with the coronavirus outbreak.
Let's get busy with the charts.
In the daily bar chart of EVBG, below, we can see that prices made a V-bottom in late September and rallied smartly into February. Prices are dipping Thursday but finished at a new high close on Wednesday.
EVBG is above the rising 50-day moving average line and the bullish 200-day moving average line. The 50-day line crossed above the 200-day line in early January for a bullish golden cross.
The daily On-Balance-Volume (OBV) has been moving sideways since August but is not far from making a new high for the move up. A new high on the OBV line would be a welcomed sight and would help to confirm the price gains.
The Moving Average Convergence Divergence (MACD) oscillator just turned to the upside signaling a fresh outright go long message.
In the weekly bar chart of EVBG, below, we can see that prices are up five-fold over the past three years. Prices are above the rising 40-week moving average line.
The weekly OBV line has been going up the past three years with the price action and tells us that buyers of EVBG have been more aggressive. The MACD oscillator has been in a strong bullish configuration since November.
In this daily Point and Figure chart of EVBG, below, we can see a potential upside price target in the $116 area.
Bottom-line strategy: The charts and indicators of EVBG look bullish but new longs need to risk a close below $90. If you are uncomfortable with this risk level I suggest you "sit this one out" for now.
