Nutanix (NTNX) is a cloud computing company that sells software and various cloud services. The name is new to me. Let's check out the charts and indicators.
In this daily bar chart NTNX, below, I can see that prices are making a strong move up off the rising 200-day moving average line. Prices are also above the rising 50-day line.
The On-Balance-Volume (OBV) line is neutral but did not make a new low in April when prices made a new low for the move down. The Moving Average Convergence Divergence (MACD) oscillator has crossed the zero line for an outright buy signal.
In this weekly Japanese candlestick chart of NTNX, below, I can see that prices are trading above the 40-week moving average line. The weekly OBV line has been drifting lower with the price action. The MACD oscillator is back to the zero line but should turn up again. The candle for this week's price action is likely to be tall and white (bullish) when it gets plotted Friday night.
In this daily Point and Figure chart of NTNX, below, I can see that prices just reached an upside price target in the $26 area.
In this weekly Point and Figure chart of NTNX, below, a price target in the $42 area is shown.
Bottom line strategy: Traders could go long NTNX around $29 risking to $26. $33 and then $42 are my potential price targets.
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