What Makes This Trade Great: TENB Rides a Beautiful Wave While SPY Chops

By Barrie Einarson | Trade Ideas

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Today’s edition of “What Makes This Trade Great” looks at TENB — a great catch from the daily trend reversal scan on a day when security stocks were on fire. To Subscribe to Trade Ideas: https://go.trade-ideas.com/SHQ
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The Setup

This came from the daily trend reversal scan with an alert at $32.19. Security stocks broadly went a little crazy today, and TENB was right in the middle of that move.

The Move

What made this one stand out was how it behaved relative to the broader market. SPY was choppy all session, moving up and down without much direction, but TENB didn’t care — it just kept grinding higher and higher, completely independent of the market’s noise.

Watching the $34 Level

The stock is now testing the $34 level to see if it can hold as support. There still looks to be some room to the upside from here, but that level is the one to watch.

Following the Wave

This was about as clean a trend as you’ll see — the bottoms of the bars basically tracked right along the top of the rising wave, with barely any real pullback to speak of. That’s the kind of structure that makes a trade easy to stay in.

Taking Some Profit

With the stock now pushing into new territory, this is a natural spot to take some profit off the table. That said, no reason to exit the entire position — there’s still more to watch here into the afternoon.

The Takeaway

TENB is a great example of a stock decoupling from a choppy broader market and just trending on its own strength. When a name ignores SPY’s noise and keeps climbing that cleanly, it’s worth staying with it and managing profits along the way rather than exiting all at once.

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Trade Ideas’ AI-driven scans, including daily trend reversals, are designed to help surface strong, independent trends like this one. As always, past performance on any single trade doesn’t guarantee future results — manage your risk accordingly.