KEYS attempts a post-earnings breakout

We highlighted big base breakout potential for Keysight Technologies (KEYS) in our November 7 The Stock Pulse.

KEYS reported earnings after the close yesterday (11/24), and the stock is attempting a post-earnings breakout from its 2022-2025 big base. A decisive rally above 186.20-178.50 would confirm this big base to target 209 (December 2021 peak) and the 250s (pattern count).

KEYS may be forming a bottom relative to the SPX, which would corroborate the basing process on the stock’s absolute stock price as highlighted above.

On a tactical basis, KEYS opened at 200.50 and has since dropped into the low 190s, but holding the lower end of today's upside gap near 180 would suggest a bullish breakaway gap (Chart 2).

Chart 1: Keysight Technologies (KEYS) (top) and relative to the S&P 500 (bottom)

Chart 2: Keysight Technologies (KEYS): Daily chart