Let's check out the charts.
In this daily bar chart of WIX, below, we can see that prices moved sideways for much of the past 12 months but things changed in February. Prices plunged for about four or five weeks but then came roaring back and surged to all-time new highs. Prices are now well above the rising 50-day moving average line as well as the rising 200-day moving average line. A bullish golden cross of these two moving averages just occurred.
Trading volume has been higher than "average" since late February. The On-Balance-Volume (OBV) line has moved higher with the price action and confirms the price gains. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish mode, well above the zero line but we could soon see a crossover to the downside for a take profit sell signal.
In the weekly bar chart of WIX, below, we can see that prices have been strong for the past three years and not just the past three months. Prices are well above the rising 40-week moving average line. The weekly volume has been stronger the past four to five months and the weekly OBV line has made a new high for the recent move up and is close to making a new all-time high.
A strong OBV line happens when trading volume is heavier in weeks when prices close higher. The MACD is bullish and up at a new high to confirm the new price highs.
In this Point and Figure chart of WIX, below, we can see that the software is projecting a potential upside price target in the $265 area.
Bottom-line strategy: Changes are made over time to all stock market indexes and Cramer's Covid-19 index is no exception. The select of WIX looks like a good addition at this point. WIX might see some choppy trading in the near-term but our charts and indicators suggest further gains are possible.