Qualys

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Qualys ( QLYS) provides cloud security and compliance solutions that enable organizations to identify security risks to their IT infrastructures and help protect their IT systems and applications from ever-evolving cyber attacks. This stock closed up 2.7% at $22.74 in Monday's trading session.

Monday's Volume: 187,000
Three-Month Average Volume: 154,514
Volume % Change: 50%

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From a technical perspective, QLYS bounced higher here right above its 50-day moving average of $20.93 with above-average volume. This stock has been trending sideways and consolidating for the last two months, with shares moving between $20.34 on the downside and $23.21 on the upside. Shares of QLYS are now starting to move within range of triggering a big breakout trade above the upper-end of its recent sideways trading chart pattern. That breakout will hit if QLYS manages to take out some near-term overhead resistance levels at $23.01 to $23.18, and then once it clears its all-time high at $23.21 with high volume.

Traders should now look for long-biased trades in QLYS as long as it's trending above near-term support at $22 or above its 50-day at $20.93 and then once it sustains a move or close above those breakout levels with volume that's near or above 154,514 shares. If that breakout hits soon, then QLYS will set up to enter new all-time-high territory above $23.21, which is bullish technical price action. Some possible upside targets off that breakout are $27 to $30.

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