The Alteryx (AYX) platform allows companies to answer business questions quickly and efficiently. The platform can be used as a major building block in a digital transformation or automation initiative.
Let's check and see if shares of AYX can help build your portfolio.
In the daily bar chart of AYX, below, we can see a bottoming pattern from January. Using your imagination you may be able to see a left shoulder in January/February. A head in June/July. A right shoulder is underway but the big question is the neckline.
Does the neckline intersect at $70 or $75? If the neckline is at $70 then we wonder why we have not yet broken out higher. If the neckline comes in at $75 then we have time to do some buying in anticipation of an upside breakout.
The shares are trading above the 50-day and 200-day moving average lines. The daily On-Balance-Volume (OBV) line has moved higher since February telling us that buyers of AYX have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment.