{"id":950,"date":"2024-06-15T12:01:43","date_gmt":"2024-06-15T12:01:43","guid":{"rendered":"https:\/\/tradetrovex.com\/index.php\/2024\/06\/15\/finding-emerging-leaders-within-key-groups\/"},"modified":"2024-06-15T12:01:43","modified_gmt":"2024-06-15T12:01:43","slug":"finding-emerging-leaders-within-key-groups","status":"publish","type":"post","link":"https:\/\/tradetrovex.com\/index.php\/2024\/06\/15\/finding-emerging-leaders-within-key-groups\/","title":{"rendered":"Finding Emerging Leaders within Key Groups"},"content":{"rendered":"<div>\n<p>The broader market is fairly mixed with one clear leader: technology. I am also seeing mixed performance within the technology sector and within specific groups. Semiconductors are strong overall, but groups like cybersecurity are more mixed. This makes it a stock pickers market. In such conditions, I am looking for individual stocks that are emerging as leaders. Today\u2019s article will focus on CyberArk Software (CYBR), which was <a href=\"https:\/\/trendinvestorpro.com\/chart-trader-reports-videos\/\" target=\"_blank\" rel=\"noopener\">covered this week in ChartTrader. <\/a><\/p>\n<p>The chart below shows CYBR breaking out of a falling wedge with a strong advance over the last two weeks. It is an emerging leader because it recently broke the 50-day SMA and exceeded its mid May high (breakout). In addition, the overall pattern and retracement look like a correction within a long-term uptrend. CYBR is well above the 200-day SMA and the decline back to 225 retraced around half of the prior advance, which was a whopping 80%. Thus, we have a two steps forward and one step backward sequence for the long-term uptrend.<\/p>\n<\/p>\n<p>The indicator window shows the price-relative (CYBR\/RSP ratio) turning up in June and breaking its mid May high. This means CYBR is starting to outperform the broader market again (relative strength). Thus, we have a long-term uptrend and break above the May high on the price chart. We also have a price-relative breakout to signal relative strength. This is a bullish combination. \u00a0A strong breakout should hold so I would set a re-evaluation level on a close below 235 (green line). <\/p>\n<p>Looking for more emerging leaders? This past week we covered two more cybersecurity stocks, a semiconductor name with a classic correction and a few healthcare stocks. ChartTrader reports and videos also cover broad market trends with a focus on SPY, QQQ and MAGS. <a href=\"https:\/\/trendinvestorpro.com\/subscribe-chart-trader\/\" target=\"_blank\" rel=\"noopener\">Click here to learn more and gain immediate access. <\/a><\/p>\n<p>\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The broader market is fairly mixed with one clear leader: technology. I am also seeing&hellip;<\/p>\n","protected":false},"author":0,"featured_media":951,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock"],"_links":{"self":[{"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/posts\/950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/comments?post=950"}],"version-history":[{"count":0,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/posts\/950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/media\/951"}],"wp:attachment":[{"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/media?parent=950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/categories?post=950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/tags?post=950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}