Stock of the Day: CBOE Global Markets

In today’s stock of the day, let’s take a closer look at CBOE Global Markets, which has been trading in a sideways consolidation phase. This period of indecision is captured within a symmetrical triangle pattern, clearly marked with green lines on the chart.

The price is steadily approaching the apex of the triangle, suggesting that a breakout is imminent. With the broader market sentiment leaning positive, there is a slight bias toward an upward breakout, but confirmation is still required.

A daily close above the upper boundary of the triangle would trigger a buy signal, opening the path for further gains. On the other hand, if the price fails to hold and closes below the lower triangle support, that would activate a sell signal, with the first target being the long-term green uptrend line below.

This is a classic “wait and see” setup where the direction of the breakout will determine the next move. Until then, the stock remains in consolidation.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-cboe-global-markets