Apr. 13 at 3:48 PM
$IGV &
$WCLD: Strong Bounce Today, But What’s Next?
It’s still early, but constructive price action today for
$IGV (+2.8%) and
$WCLD (+3.2%) is looking promising. Here’s the breakdown:
$IGV held the
$74 level and the .618 fib retracement—a strong technical support.
$WCLD bounced off a key trendline dating back to the 2019 lows.
Today, we’re seeing software, cloud, and cyber stocks rise 3-6%. While it's hard to predict where these stocks will trade in 3-6 months, many of them were overdue for a bounce as we head into Q1 earnings, which should show strong numbers.
If AI disruption is coming, it’s not showing up yet. These stocks may have more upside before that narrative fully plays out.