Testing resistance with Splunk!

The February monthly candle closed smack¬†on the breakout line for splk. Will need to wait for next month’s close before confirming a bullish breakout. I have the line at the 67.50 mark. Here is the monthly candle (+2 year) chart.

splk_m

Now the weekly candle chart. The arrows are the implied measured move added to the breakout line. Target is 85.

splk_w

Check out the noise on the daily candle 1 year chart. A couple of whipsaws here if this would of been played based on breakouts confirmed by a daily candle close above the breakout line.

splk_d

Right now, there is no play. Will come back to this at the end of the month and see where the price action is at.

Again, patience is required.

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