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Cyber security: ASX opportunities

Cyber security has become a higher profile topic in Australia over the last week following the Prime Minister's announcement about serious issues threatening the security of our country. I've noticed increased traffic on this topic through my 'inbox' and, given I am preparing for an ATAA technical analysis trading meeting on Saturday morning, I decided to look at some Aussie stocks featuring in this space for chart inspiration. A search for information and relevant tickers in the ASX cyberspace sector revealed this June 2020 source, this Nov 2019 source plus this older article, and a few of the featured charts caught my interest. The charts below are ones that have technical patterns that interest me enough to monitor for any momentum-based trend line breakout. There are plenty of other ASX tickers so make sure you do your own research and carry out due diligence before any trading or investing.

 

SEN daily: Senetas is focused on data security for business and governments worldwide enabling secure encryption services; particularly for file sharing. The current daily chart has one of my preferred charting patterns of a Descending Wedge. Any bullish wedge breakout would bring the $0.14 level into focus as this is near the 61.8% Fibonacci of the recent swing Low.

 

ELS weekly: Elsight Limited develops and commercializes multichannel high-band-width-mobile-secured-data link technology worldwide. There is the look of another Descending Wedge here so any bullish momentum breakout would bring the $1.25 level into focus as this is near the 61.8% Fibonacci of the recent swing Low.

 

FZO weekly: Family Zone Cyber Safety: offers cyber safety products for parents and I note there looks to have already been a Descending Wedge breakout. The target would be the $0.70 level as this is near the 61.8% Fibonacci of the recent swing Low.

 

MWR weekly: MGM Wireless develops wearable devices for children and software for school communication and student absence management in Australia, New Zealand, the United Kingdom, and the United States. Any triangle breakout would bring the $0.35 level into focus as this is near the 61.8% Fibonacci of the recent swing Low.

 

WHK weekly: Whitehawk Limited operates a business to business e-commerce cyber security exchange in Australia and the United States. Any momentum based triangle breakout would bring the previous High into focus; up near $0.30:

 

VOR weekly: Perth's Vortiv LTD is a tech company focused on cyber security. I like the look of the consolidation evident on the second chart below. Any bullish triangle breakout would bring the $0.50 level into focus as this is near the 61.8% Fibonacci of the recent swing Low. After that, watch $1 for any new make or break:

 

AR9 weekly: archTIS specialises in the design and development of products, solutions and services for secure information sharing and collaboration. The company attracted attention when Australian PM Scott since Morrison spoke recently as these 'reports of the cyber attack coincided with news that archTIS has secured its first commercial Australian Defense Industry contract...'. I would be waiting for any weekly close above the $0.20 level:

 

TNT weekly: Tesserent Limited provides Internet security-as-a-service in Australia and internationally. I'm not seeing a major pattern as such but I would be waiting for any weekly close above the $0.12 S/R level to possibly then target the previous High, circa $0.20:

 

 

HACK weekly: This chart was not featured in any of the articles I sourced but is of the ASX cyber security ETF HACK. I'm not seeing any real pattern here as such but note the ETF pretty much remains in an uptrend with the print of higher Highs and higher Lows. Any move and hold back above the $7.50 level might be a sign of continuation. I would watch the ADX and +DMI for clues here: