Many software stocks led the market in 2018. They emerged out of the late-2018 correction leading the market, and continue to lead the market after the May 2019 correction. The IGV ETF bounced off the 30-week moving average during the May pullback and recovered on big volume.
SMAR is one of the best looking new software leaders with massive accumulation over the last 2 weeks even after releasing a secondary offering. SMAR is right at multi-month resistance at 46 looking for a Stage 2 continuation breakout.
Disclosure: I am long SMAR.
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