Technical Trading Expert Sees Upside Potential For FireEye

FireEye Inc FEYE will report Q4 earnings following the market close Wednesday. The Street expects a loss per share of $0.49 and revenue of $141.44 million.

Over the past month the stock has climbed over 7 percent amid growing concern over cybersecurity breaches.

Technical trading expert Serge Berger commented to Benzinga on the stock ahead of the earnings release.

Berger noted that “through a technical lens, the stock is at a huge spot” and that traders may see significant upside in the coming months.

“After building a bottom since May of 2014 the stock is at a major resistance level near $37,” according to Berger’s analysis.

Berger felt that “if the stock can power through” the $37 level, then the upside opens up for it to move “toward $50 from a multi-month perspective.”

Heading into the earnings release, shares of FireEye Inc traded at $36.15, down 1.00 percent.