The USD 70.69 support, currently tested, should allow CommVault Systems to rally again.
For more than six months, analysts have revised their EPS Estimates for around 20% up. Growth perspectives of the revenues are also encouraging for the investors interested by the share.
The security follows a downward trend in the short term, under the USD 74 resistance area. The trend is bearish also in the mid-term, however, the selling pressure could soon run out of steam. Indeed, whereas the stock shows an oversold condition, the USD 70.7 support area (and the trendline) currently tested might stop the bearish trend in the short term.
Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the USD 70.7 area should stop this trend and allow a technical rebound towards USD 74. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.
So as to make the most of a potential technical rebound on CommVault Systems, it seems opportune to take a long position at the current price. A confirmation of this pattern would enable the security to reach the USD 77.7 resistance, with a potential gain of 8.9%. Investors should not insist under USD 70.7 and it's better to set a stop loss under this threshold.
Commvault Systems, Inc. is a data management company. The Company offers cyber resilience platform that combines the data security and rapid recovery at enterprise scale across any workload. The Company provide these products and services for their data across many types of environments, including on-premises, hybrid and multi-cloud. Its offerings are delivered via self-managed software, software-as-a-service (SaaS), integrated appliances, or managed by partners. The Companyâs Commvault Cloud offerings are organized in three packages, such as Operational Recovery, Autonomous Recovery and Cyber Recovery. Its Operational Recovery provides backup, verifiable recovery, and cost-optimized cloud workload mobility, helping to ensure data availability and granular recovery, even across multiple clouds all managed with Commvaultâs Command Center. In addition, the Company provides customers with a range of offerings, including Cleanroom Recovery, HyperScale X, Air Gap Protect and Compliance.