Shares of Splunk Inc (NASDAQ:) are ripping today. News of a Silver Lake investment is providing the spark.
SPLK has been rebounding nicely since its last report. Heading into this week, the stock had gained 25% from the post earnings close (June 3).
SPLK reached all-time highs in September of last year. At the 2021 May lows, the stock had fallen more than 50% and had reached its deepest oversold reading (weekly MACD) in history. Since the December bottom SPLK has been tracing out a divergent low in the daily MACD indicator.
Volume is running very heavy today. It will be the heaviest upside day for the stock since May of last year (May 22/earnings/+13%).
Note: We have no position.
You can read Gary S. Morrow’s original post here.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.