Cybersecurity continues to be an important theme as we continue to see headlines about business and government hacking incidents.
We also have more people working from home in the post-COVID work environment. Sure enough, these trends find there way into the price of a given sector ETF.
This chart comes from Marketsmith.com
In this case, it’s the Global X Cybersecurity ETF (BUG). The “daily” Chart shown below highlights a bullish pattern that has developed during the first half of 2021… that may lead to a breakout and higher prices during the 2nd half of 2021!
The Global X Cybersecurity ETF (BUG) looks to be creating a bullish ascending triangle over the past 6-months at (1). This takes shape as the trend remains higher and the flat overhead resistance allows upside pressure to build. And often end in a breakout.
A successful breakout at (2) will likely lead to a strong rally for $BUG. Stay tuned!