FireEye Inc – Cyber Security platform providers (in real time) to corporations and governments.
We’ve been stalking FireEye for a while waiting for weakness to start accumulating. There is big volume. signs of institutional buying in the base which often precedes a future breakout and run. In the chart we see a flat base pattern forming with the moving avgs. coming together and crossing.
The pivot point (and our future 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 Trading Room video and weekly chart below: