Infrastructure Software Name Nearing Large Breakout to Highs
Bentley Systems (BSY) shares of the infrastructure software name are nearing a breakout of a 6-month range and above the monthly value area highs near 53 with a lot of open space above here for a move to 58 where an untested VPOC sits overhead. BSY is up over 40% YTD and seeing double digit sales growth into the next few years. A name that likely can see a bigger breakout from here as the weekly chart is sporting a big cup and handle pattern that would point to a retest of the 2021 highs near 70 in due time. BSY does not see much options action but recently on 11/14 saw a rare notable opening put seller of 1700 May $45 puts sold for $1.99 and still holding in OI.