Varonis Systems 15min chart triggers KDJ Golden Cross, bullish Marubozu formation.

Varonis Systems' 15-minute chart has recently triggered a Golden Cross, indicating a shift in the momentum of the stock price towards the upside. This trend is further reinforced by a Bullish Marubozu at 10:45 on February 2, 2023, suggesting that buyers currently have control of the market. As a result, there is a strong likelihood of continued bullish momentum in the stock price.

Varonis Systems' (NASDAQ:VRNS) stock has recently shown signs of bullish momentum with a Golden Cross and a Bullish Marubozu candlestick pattern. These technical indicators suggest that the stock price is likely to continue its upward trend.

On February 2, 2023, at 10:45, a Bullish Marubozu candlestick pattern appeared, indicating that buyers have control of the market and are likely to continue pushing the stock price higher UBS Group Issues Positive Forecast for Varonis Systems (NASDAQ:VRNS) Stock Price^[1]. This pattern is a strong signal of bullish momentum and suggests that the stock price is likely to continue its upward movement.

Additionally, the 15-minute chart of Varonis Systems' stock triggered a Golden Cross, which is a bullish indicator. A Golden Cross occurs when a shorter-term moving average crosses above a longer-term moving average, signaling a shift in the stock's momentum towards the upside .

These technical indicators, along with the recent positive earnings reports and analyst upgrades, suggest that Varonis Systems' stock price is likely to continue its upward trend. The company reported earnings per share (EPS) of $0.03 for the last quarter, exceeding analysts' estimates, and had a revenue increase of 16.7% year-over-year .

The stock has also received positive analyst ratings, with UBS Group raising its price target to $70.00, indicating a potential upside of 17.57% from its previous close . Other analysts have also issued positive ratings and target prices for the stock, with a consensus rating of "Moderate Buy" and an average target price of $63.41 .

Institutional investors have shown significant confidence in Varonis Systems' future prospects, with institutional investors holding 95.65% of the company's stock . This strong institutional support, coupled with the recent technical indicators and positive earnings reports, suggests that Varonis Systems' stock price is likely to continue its upward trend.