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Shares of Splunk are ripping today.  News of a Silver Lake investment( Splunk Surges On Silver Lake Investment, $1 Billion Buyback By is providing the spark.

SPLK has been rebounding nicely since its last earnings report(Splunk stock falls after reporting wider than expected Q1 losses | Seeking Alpha).  Heading into this week the stock had gained 25% from the post earnings close(June 3).  

SPLK reached all time highs in September of last year.  At the 2021 May lows the stock had fallen over 50% and had reached its deepest oversold reading(weekly MACD) in history.  Since the December bottom SPLK has been tracing out a divergent low in the daily MACD indicator.  

Volume is running very heavy today, it will be the heaviest upside day for the stock since May of last year(May 22/earnings/+13%). 

No position.