Thread by @malteseinvest

Analysis: #NASDAQ $SPLK

Case 291 #Splunk Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#SPLK 1/4

Chart 1
Weekly Chart: The all time high of 176.31 was followed by a huge surge downwards and price temporarily broke below the 4 year #trendline but found strong #support on the #SMA 200 and #Fib. 0.50 (100.73). All the losses .....

SPLK 2/4

..... seen in March have all been recouped, with good upwards #momentum. A strong close above 172.52 is required.

SPLK 3/4

Chart 2
Daily Chart: Chasing the price higher is risky and we watch for a reaction above the pivot.

The #Strategy is printed on the image.

$SPLK 4/4