Relative Strength Software Name Forms Coiled Bull Flag
HubSpot (HUBS) shares of the tech name are coiling and ready to run as the recent consolidation allowed the 55-day MA catch up to price and now lines up with strong support near the VPOC of 675. A solid risk reward in place for a move back to the former highs made recently near 760. HUBS closed green on Wednesday and back into monthly value while the market was choppy and weaker, so a clear relative strength name along with other software peers this week. HUBS also saw recent opening put sellers with 880 Feb $600 puts sold at $7.20 and 550 of the Feb $610 puts sold at $7.30, low delta put sales but often a good sign that pullbacks are complete.