Monday morning's action looked to be the breakout of all breakouts in Cyber Ark (CYBR). It failed quickly.
It's found no buyers while the market has ripped mid-week. This support confluence including the 50 and 20D MA's has stopped the bleeding temporarily.
We've seen many apparent false breakouts in stocks shake traders out and then resume higher. Will that happen again?
That's tough to judge, but at this point you don't even have to risk 1% to play for a 4% pop back up to the resistance line.
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