Jim Cramer pointed out 10 cloud computing companies that were his favorites during his Mad Money program Wednesday night. HubSpot ( HUBS) was on his list as it offers customer relations software. Let's check out the charts.
In this daily bar chart of HUBS, below, we can see that prices have soared to new highs this month. Prices have nearly doubled since the November nadir. HUBS is above the rising 50-day moving average line. The rising 200-day moving average line was nearly tested earlier this month.
The On-Balance-Volume (OBV) line shows a rough rising trend from January to June and then a decline in July. Right now it looks like the OBV line is recovering and buyers are becoming more aggressive again.
The Moving Average Convergence Divergence (MACD) oscillator is in a bullish configuration above the zero line.
In this weekly bar chart of HUBS, below, we can see that prices are up four fold in the past three years. Wow! The rising 40-week moving average line has done a super job in identifying the uptrend and keeping you bullish and involved if you used this simple technical tool.
The weekly OBV line is rising and confirming the price gains. The MACD oscillator has crossed to the upside for a fresh outright go long signal.
In this updated Point and Figure chart of HUBS, below, we can see a recent upside breakout and a price target of $246.
Bottom line strategy: It looks like HUBS could be headed higher to the next round number of $250. Go long around $200, risking below $180.
