• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing

As Nutanix Gaps Higher, Let's Plot a Technical Strategy

We're digging into this cloud services firm.
By BRUCE KAMICH
May 25, 2023 | 11:40 AM EDT

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.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Stocks | Technical Analysis | Software & Services | Technology | Technology Hardware & Equipment

More from Investing

Beware the Potential Effect of the SEC's Crypto Crusade on Equities

Bob Byrne
Jun 7, 2023 8:30 AM EDT

Is a crackdown on the cryptocurrency market the outlier that stock traders didn't see coming because they were focused on inflation and interest rates?

Campbell Soup Serves Up an Earnings Beat but It May Not Warm Its Charts

Bruce Kamich
Jun 7, 2023 8:22 AM EDT

The technical signals of the iconic food company seem lukewarm at best.

ATI Inc. Could Test Its Mettle and Extend Its Winning Streak

Bruce Kamich
Jun 7, 2023 7:30 AM EDT

The producer of specialty metals has been climbing on its charts and that trend looks like it could continue.

More Rotation Out of Big-Cap Tech and Into the Rest of the Market Is Key

James "Rev Shark" DePorre
Jun 7, 2023 7:04 AM EDT

The big question is, can the broad market, and small-caps in particular, continue to produce relative strength?

The New Cool Thing: To Call a Bull Market

Helene Meisler
Jun 7, 2023 6:00 AM EDT

I suspect that the catch up trade that has finally gotten in gear is what will turn divided sentiment into one cohesive bunch of bulls.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 07:19 PM EDT CHRIS VERSACE

    AAP Podcast: This Company Is Not Going 'Solo'

    Listen in as I talk with the very diversified Solo...
  • 01:51 PM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    Adjusting Your Trading Approach to Shifting Market...
  • 06:54 PM EDT CHRIS VERSACE

    AAP Podcast: A Tongue -- and a Market -- Twister: 'Get a Debt Deal Done'

    Listen in as the Action Alerts PLUS Podcast tackle...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login