The company shows strong fundamentals. Firstly, the high valuation of the group shows a great investors confidence in it because there are willing to pay a high price for the stock. Moreover, the consensus sharply revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.
From a technical viewpoint, the security is trading in a bullish trend on all time scales. However, the stock is back to the USD 82 short term support. Investors were very hesitant during the 3 previous trading sessions, which let think a reversal is forming thanks to that threshold and the 50-day moving average, which is coming in support. Thus, we expect prices to bounce towards USD 88.5, soon.
Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price in order to benefit from a possible reversal. The first target price is the USD 88.5 resistance. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be placed under the USD 82 short term support, threshold that would invalidate this trading strategy.
Commvault Systems, Inc. is a data management company. The Company offers cyber resilience platform that combines the data security and rapid recovery at enterprise scale across any workload. The Company provide these products and services for their data across many types of environments, including on-premises, hybrid and multi-cloud. Its offerings are delivered via self-managed software, software-as-a-service (SaaS), integrated appliances, or managed by partners. The Companyâs Commvault Cloud offerings are organized in three packages, such as Operational Recovery, Autonomous Recovery and Cyber Recovery. Its Operational Recovery provides backup, verifiable recovery, and cost-optimized cloud workload mobility, helping to ensure data availability and granular recovery, even across multiple clouds all managed with Commvaultâs Command Center. In addition, the Company provides customers with a range of offerings, including Cleanroom Recovery, HyperScale X, Air Gap Protect and Compliance.