VRNT Verint Systems – Stock At New All Time High – Bullish Position Trade Candidate

by Olivier on September 9, 2014

A great example for healthy bull market action would be VRNT – Verint Systems. The stock is displaying an overall bullish accumulation volume pattern and has recently started printing new all time highs. The daily pattern pressure looks like it qualifies as enough of a base to allow for significant further price appreciation. Furthermore the weekly chart does not show an extremely extended stock. Granted this is not the very beginning of a new move but so far everything indicates VRNT might have the potential to develop into a new leader capable of attracting institutional participation. To make a long story short, provided one applies proper risk management and keeps position sizes appropriate this stock looks like a decent position trade candidate as long as the bull market is alive and kicking.

Click on the daily VRNT chart to enlarge:

Click on the weekly VRNT chart to enlarge:

The weekly compressed chart clearly shows VRNT is not extremely extended. The overall bullish volume accumulation pattern is clearly visible as well. The technical price target should be around 75 – 80$. If that target is reached VRNT might go even higher to reach the 100 US$ round number target. Time will tell.

VRNT – Verint Systems company description from Yahoo finance:

Verint Systems Inc. provides Actionable Intelligence solutions and value-added services worldwide. Its Enterprise Intelligence Solutions segment offers workforce optimization solutions comprising quality monitoring, full-time and compliance recording, voice biometrics/fraud detection, voice of the customer analytics, workforce management, desktop and process analytics, performance management, eLearning and coaching, and public safety workforce optimization; and customer service solutions, including agent desktop, case management, email management, knowledge management, live chat, co-browse, experience analytics, Web self-service, and experience community solutions for the customer engagement optimization market. The company’s Communications and Cyber Intelligence Solutions segment provides communications interception, communications service provider compliance, mobile location tracking, open source web intelligence, and tactical communications intelligence solutions for the security intelligence market. Its Video and Situation Intelligence Solutions segment offers physical security information management, IP video management software, edge devices, video analytics, and network video recorders for the fraud, risk, and compliance market. The company also provides mobile device tracking solutions for security applications; and implementation and training, consulting and managed, and maintenance support services. It serves government, law enforcement, transportation, critical infrastructure, and commercial organizations; and financial services, retail, and telecommunications industries. The company sells its products through its direct sales team; and through distributors, systems integrators, value-added resellers, and original equipment manufacturer partners primarily under the Impact 360, KANA, RELIANT, VANTAGE, STAR-GATE, ENGAGE, FOCAL-INFO, CYBERVISION, SIC, VIGIA, and Nextiva brands. The company was founded in 1994 and is headquartered in Melville, New York.

Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money. – Bruce Kovner

Twitter: https://twitter.com/Tischendorf

Investing in your education always pays. Learn how to read chart patterns like a pro! Tischendorf Letter Premium: https://members.tischendorf.com

Previous post:

Next post: