Cornerstone in the Corner Pocket

Given the success of some monstrous growth technology firms in the software and internet content arena, such as SHOP WIX, we want to see potential follow-on winners, too.

Cornerstone OnDemand is one candidate, with earnings now out of the way. The firm has been rumored to be for sale. But even if no buyout occurs, the daily chart for CSOD, below, shows us a rather coiled sideways base after a long overdue correction last autumn. 

A move over $43 now likely triggers a rush of buyers for a base breakout higher, compelling us to keep this one on watch. 

There are several other software plays which has been rather impressive of late, but still have earnings coming up, such as PEGA. 

In the meantime, Cornerstone is worthy of bulls' attention for a corner pocket breakout shot.