A good swing long setup opportunity has occurred in Symantec stock after it acquires two companies in the last week. Symantec announced that it plans to acquire Israel-based Skycure, makers of a predictive threat detection platform for mobile devices. Last week, Symantec said it would buy Fireglass, a startup known for its browser isolation technology that’s used to combat ransomware, malware and phishing threats.
Symantec stock looks like a good swing long setup opportunity. There is a really good positive divergence between the Effective Volume large players indicator and the price of SYMC.
There is reduced volatility while prices have been consolidating in the most recent period forming a momentum squeeze.
The True Strength Index has just done a bullish cross although it’s having trouble lifting off the bottom.
There is a very little resistance above the current price. There is a support zone below the current Symantec stock price at $28.53, a stop order could be placed below this zone.
Symantec Stock Review
Name: Symantec Stock Review
Description: What do you think about Symantec's current valuation and stock price?
Symantec Corporation, the world’s leading cyber security company, helps organizations, governments and people secure their most important data. Organizations across the world look to Symantec for strategic, integrated solutions to defend against sophisticated attacks across endpoints, cloud and infrastructure. Likewise, a global community of more than 50 million people and families rely on Symantec’s Norton and LifeLock product suites to protect their digital lives at home and across their devices. Symantec operates one of the world’s largest civilian cyber intelligence networks, allowing it to see and protect against the most advanced threats.
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