Tyler Technologies (TYL) has broken out on the upside on the charts. Let's check out the charts and indicators of this company that provides integrated software and technology services to the public sector.
In the daily bar chart of TYL, below, I can see that share prices broke above both their February highs and above the bottoming 200-day moving average line. The shares also trade above the rising 50-day moving average line.
The On-Balance-Volume (OBV) line shows a rise from early 2023 and tells me that buyers of TLY are being more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator is pointed up from above the zero line.
In the weekly Japanese candlestick chart of TYL, below, I can see a more positive-looking chart. The shares are trading above the bottoming 40-week moving average line.
The OBV line turned up three months ago. The trading volume has been more active since December. The candles are bullish with no upper shadows yet. The MACD oscillator has been improving and is just slightly below the zero line now.
In this daily Point and Figure chart of TYL, below, I can see an upside breakout and a price target in the $431 area now.
In this weekly Point and Figure chart of TYL, below, I used a five-box reversal filter. Here the software projects a price target in the $551 area.
Bottom-line strategy: Traders could go long TYL at current levels and on a shallow dip. Risk to $334. The round number of $400 is my first price target.
