Cloud Computing Stock That’s Headed Up, Up, Up

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CommVault Systems (NASDAQ: CVLT ) - This cloud computing company provides data and information management software applications and related services. "Its robust revenue growth, solid financial position, and reasonable debt levels" are noted by TheStreet.com Ratings.

Technically, CVLT broke from a major base in February at $30, jumping to $40 in just two weeks. It consolidated within a bullish pennant falling to $34.50 before breaking to another plateau with support at $37 and resistance at $39. Two recent bullish reversals, an undervalued Moving Average Convergence/Divergence (MACD) , and a close yesterday over its 20-day and 50-day moving averages make this a prime candidate for a breakout.

The trading target for CVLT is a quick run to $42, but longer-term buyers may want to hold for longer since this stock appears capable of another major advance. The longer-term target is $50.

Trade of the Day - CommVault Systems (NASDAQ: CVLT)

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Investing Ideas , Stocks

Referenced Stocks: CVLT

Sam Collins

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