Splunk (SPLK.US) stock jumped briefly by 10.0% following a Wall Street Journal report that activist investor Starboard Value has taken a near 5% stake in the software maker. Starboard is reportedly pushing the company's board to implement several changes in order to boost Splunk’s stock price, which plunged nearly 70% from the 2020 high.
Splunk (SPLK.US) stock fell sharply in recent months, however it seems that buyers managed to halt declines around major support at $70.80, which coincides with 78.6% Fibonacci retracement of the upward wave launched at the beginning of 2016. As long as price sits above this level, upward correction may be launched. The nearest major resistance to watch is located at 61.8% retracement around $105.25. Source: xStation5
Daily Summary: Wall Street and energy markets end the month on a wave of gains.
Intel surges on rumors of chips for Apple
US Open: After a Day Off, Wall Street Opens the Session in the Green
DE40: DAX loses slightly ahead of the German CPI data 📌Deutsche Borse rebounds on possible Allfunds Group acquisition