FEYE – FireEye Inc. Weekly Chart

This cybersecurity stock has been forming a flat base which now has turned into

an ascending base pattern. The ascending base has a flat top/resistance and rising lows, signaling that it is being bought on dips. There are also clear signs of accumulation in the base evidenced by big volume spikes. The moving averages have come together and crossed.

The pivot point (and our buy point) is at 16.35 for the cyber security platform provider. We’ll need some volume on the breakout to make it hold – 40-50% above the average daily volume should do it.

Here’s the weekly chart:

FEYE - FireEye Weekly Chart
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