Citrix Systems (CTXS.US): strong trend with more potential

14.09.2018 / 18:32

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Citrix Systems (CTXS.US)

Daily chart

The current price around 112.8 has support from the diagonal of the ascending channel and the 50-DMA. We expect a continuation of the upward trend and completion of the cup with handle formation. RSI breaks over 50 and points up: a signal for a likely short-term upward movement. We will monitor price behavior in the area around 116. This is the level of the previous peak, after which the price underwent a slight correction. This is the main resistance for the price.

Entry: $ 112.8

S/L: $ 107.8, at these levels the price falls below the upward channel and below 50-DMA and 100-DMA.

Alternative scenario: At a fall below $ 106, the price is likely to experience breakthroughs below the bottom of 103-104 and a trend reversal.

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Citrix Systems (CTXS.US): strong trend with more potential

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