NTNX - Nutanix Inc Fri 13'th Jan 2017
Stock analysis for Fri 13'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-11
Nutanix Inc Stock Analysis
Nutanix Inc gained 0.96% in the last trading day rising from, USD 30.17 to USD 30.46. , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days days and is up by 16.35% over the past 2 weeks. Volume fell in the last day by -103 625 shares and ,in total, 514 506 shares bought and sold for approximately USD 15.67 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Given the current horizontal trend you can expect Nutanix Inc with 90% probability to be traded between USD 22.82 and USD 34.06 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Only positive signals in the chart today. Nutanix Inc holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at USD 29.08 and USD 28.71. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday December 29, 2016, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 57 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside the stock finds support just below today's level from accumulated volume at USD 28.92 and USD 28.74 On the upside the stock meets some resistance just above today's level from accumulated volume at USD 30.74, USD 32.00 and USD 32.45.
There is natural risk involved when a stock is testing a support level, as if this is broken the stock may fall to the next support level. In this case Nutanix Inc finds support just below today's level at 28.92. If this is broken the next support from accumulated volume will be at 28.74 and 27.60. The stock is about to test the resistance from accumulated volume at USD 30.74 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved USD 1.09 between high and low, or 3.68%. For the last week, the stock has had a daily average volatility of 6.93%.
Our recommended stoploss: USD 30.43 (-0.10%) ( criteria: risk and position in trend)
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.