BUG Global Cybersecurity ETF: Bullish Ascending Triangle (Breakout Watch)

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 their 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.

(Click on image to enlarge)

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