Tuesday, September 22, 2015

Tableau Software Inc (NYSE: DATA)

Tableau Software, Inc., together with its subsidiaries, provides business analytics software products in the United States, Canada, and internationally. The company offers Tableau Desktop, a self-service analytics environment that empowers people to access and analyze data independently; and Tableau Server, a business intelligence platform with data management, scalability, and security to foster the sharing of data, as well as to improve the dissemination of information in an organization and promote enhanced decision-making. It also offers Tableau Online, a cloud-based hosted version of Tableau Server; and Tableau Public, a cloud-based platform that allows bloggers, journalists, researchers, and government workers to visualize public data on their Websites.
Take a look at the 1-year chart of Tableau (NYSE: DATA) with the added notations:
1-year chart of Tableau (NYSE: DATA)
DATA rallied strongly higher from its October low. Now that the stock has declined lower, the most recent month has found DATA hitting support at $90 (green). That same $90 support was also support earlier in the year, and it was also a resistance back in December. Now that the stock appears to be testing that support level again, traders should be able to expect some sort of bounce. However, if the $90 support were to break, lower prices should follow.

The Tale of the Tape: DATA has a key level of support at $90. A trader could enter a long position at $90 with a stop placed under the level. If the stock were to break below the support a short position could be entered instead.

No comments:

Post a Comment