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Relative Strength Software Name Forms High Tight Flag

by | Nov 25, 2024

Tyler Technologies (TYL) shares of the lesser followed software name are breaking out above monthly value after a monthly long consolidation held key support near 600 in a post earnings drift pattern that is likely to see a push towards 650 now. TYL has rallied 50% YTD and should continue to see growth driven by margin expansion and cloud strength. TYL rarely sees options action, but the past month has seen 200 June $590 puts sell to open at $22.10 and 100 March $590 calls bought at $42.00.

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