Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Global Cybersecurity ETF: Bullish Ascending Triangle Points To Breakout

Published 06/25/2021, 12:51 PM
Updated 07/09/2023, 06:31 AM
BUG
-

BUG ETF Daily Chart.

Cybersecurity continues to be an important theme as we continue to see headlines about business and government hacking incidents.

We also have more people working from home in the post-COVID work environment. Sure enough, these trends find there way into the price of a given sector ETF.

This chart comes from Marketsmith.com

In this case, it’s the Global X Cybersecurity ETF (NASDAQ:BUG). The daily chart shown here highlights a bullish pattern that has developed during the first half of 2021. It may lead to a breakout and higher prices during the second half of 2021.

BUG looks to have been creating a bullish ascending triangle over the past six months at (1). This takes shape as the trend remains higher and the flat overhead resistance allows upside pressure to build. This often ends in a breakout.

A successful breakout at (2) will likely lead to a strong rally for BUG. Stay tuned.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.