Tyler Technologies is the largest provider of software to the public sector in the US. It offers a full suite of software solutions to schools, courts, cities, counties, and local government entities. Business from the government tends to be stable, and the increasing digitization of public services is poised to drive the long-term demand for Tyler Technologies’ products and services. Being the largest player in the industry, its long-term prospects look bright.
The long-term monthly chart for Tyler technology shows a clear uptrend with consistent higher tops and higher bottoms throughout the past decade. The price has more than doubled since 2019 and hit a peak of $477 in Mach 2021 before pulling back 20%. The price found support at the $381 level, which was previously resistant and now seems to have turned into support. The price is also close to the bottom of the long-term trend. A reversal looks likely with a target price of $475. A minimum stop loss can be placed below the support level and the bottom trend line at around $366.
Position entered into our long-term tracking portfolio today. The entry point is at $428.72, and stop-loss is placed at $368.71, which is 14 % below the entry point. The short-term to medium-term take profit at the top of the trend is set at $471.38, giving a profit of 10%.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.