Nutanix Inc Stock Forecast
Nutanix Inc stock price up 2.42% on Wednesday
(Updated on Jun 12, 2024)
The Nutanix Inc stock price gained 2.42% on the last trading day (Wednesday, 12th Jun 2024), rising from $52.82 to $54.10. During the last trading day the stock fluctuated 2.81% from a day low at $53.72 to a day high of $55.23. The price has fallen in 6 of the last 10 days and is down by -26.18% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 697 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $154.44 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $52.16 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.68% during the next 3 months and, with a 90% probability hold a price between $50.24 and $70.03 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NTNX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 3.36%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nutanix Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $63.12. On a fall, the stock will find some support from the short-term average at $53.27. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Nutanix Inc stock
Nutanix Inc finds support from accumulated volume at $53.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.51 between high and low, or 2.81%. For the last week, the stock has had daily average volatility of 3.43%.
Nutanix Inc is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NTNX) For The Upcoming Trading Day Of Thursday 13th
For the upcoming trading day on Thursday, 13th we expect Nutanix Inc to open at $54.35, and during the day (based on 14 day Average True Range), to move between $51.33 and $56.87, which gives a possible trading interval of +/-$2.77 (+/-5.13%) up or down from last closing price. If Nutanix Inc takes out the full calculated possible swing range there will be an estimated 10.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $53.99 (0.21%) than the resistance at $55.32 (2.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nutanix Inc stock A Buy?
Nutanix Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.024 Sell Candidate Unchanged
Predicted Opening Price for Nutanix Inc of Thursday, June 13, 2024
| Fair opening price June 13, 2024 | Current price |
|---|---|
| $54.35 ( 0.462%) | $54.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NTNX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 55.86 | 3.25% |
| R2 | 55.28 | 2.19% |
| R1 | 54.93 | 1.53% |
| Price | 54.10 | |
| S1 | 53.77 | -0.604% |
| S2 | 53.42 | -1.26% |
| S3 | 52.84 | -2.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 64.25 | 18.76% |
| R2 | 56.36 | 4.18% |
| R1 | 55.32 | 2.25% |
| Price | 54.10 | |
| S1 | 53.99 | -0.213% |
| S2 | 53.33 | -1.42% |
| S3 | 52.34 | -3.25% |
FAQ
Click here for our free guide on how to buy Nutanix Inc Stock.
