Watch Out Viruses: CyberArk Software Is Ready for Further Gains

Let's check out the charts of this cybersecurity stock.

During the fast-paced Lightning Round segment of Mad Money callers get to ask Jim Cramer about stocks they are interested in. On Tuesday night a caller wanted to know about CyberArk Software (CYBR) . "People like some other cybersecurity stocks more but this one is still good," said Cramer. 

Let's check out the charts. 

In the daily bar chart of CYBR, below, we can see that the shares have traded sideways since early May but there has been some quiet improvement. Prices are above the rising 50-day moving average line and testing the bottoming 200-day moving average line.

The On-Balance-Volume (OBV) line has followed prices sideways but with a slight upward bias. The Moving Average Convergence Divergence (MACD) oscillator just turned up for a fresh outright buy signal.

 

 

In the weekly bar chart of CYBR, below, we can see that prices are testing the bottoming 40-week moving average line. The weekly OBV line has held up better than prices have the past year.

 

The MACD oscillator gave a cover shorts buy signal in May and is moving up toward the zero line. 

 

 

 

In this Point and Figure chart of CYBR, below, we can see an upside price target of $144. 

 

 

 

 

Bottom-line strategy: Traders could go long CYBR on a close above $110 risking a close below $100. The $144 area is our price objective. 

 

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