Stoecker said that thanks to the pandemic, companies are realizing the importance of data and analytics in their digital transformations. That's why Alteryx now counts 37% of the Global 2,000 as customers and just passed $400 million in annual recurring revenues.
Analytics is playing a big part in Covid-19, Stoecker said, from sequencing the virus's genome to tracking its spread to managing supply chains for critical supplies.
Let's check out the charts and indicators of AYX.
In the daily Japanese candlestick chart of AYX, below, we can see that prices declined with the broader market in February and March but unlike many stocks AYX made a classic retest of the March nadir. Prices have rallied back above the flat 200-day moving average line and above the still declining 50-day moving average line.
The On-Balance-Volume (OBV) line does not support the rally as it has been in a decline from the middle of February and tells us that despite the rally sellers of AYX have been more aggressive.
The Moving Average Convergence Divergence (MACD) oscillator is above the zero line in bullish territory. It has narrowed and could soon generate a take profits sell signal.
In the weekly bar chart of AYX, below, we can see that prices are roughly in the middle of a large trading range. AYX is above the bottoming 40-week moving average line.
The weekly OBV line looks stable since late March and the MACD oscillator is close to a fresh outright long signal.
In this Point and Figure chart of AYX, below, we can see a potential upside price target of $166.
Bottom-line strategy: While I like that AYX successfully retested its March low I find the declining OBV line a problem. Put AYX on your shopping list because of the Point and Figure chart but wait until the OBV line turns up strongly before buying.