Nutanix Inc Stock Forecast

Green day on Thursday for Nutanix Inc stock after gaining 1.77%
(Updated on May 02, 2024)

NTNX Signals & Forecast

There are mixed signals in the stock today. 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 $62.50. On a fall, the stock will find some support from the short-term average at $61.39. 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). A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.86%. Further rise is indicated 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 it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Nutanix Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $59.04 and $58.34. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Nutanix Inc finds support just below today's level at $59.04. If this is broken, then the next support from accumulated volume will be at $58.34 and $55.52.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.00 between high and low, or 3.33%. For the last week, the stock has had daily average volatility of 3.20%.

Our recommended stop-loss: $59.52 (-4.29%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (NTNX) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Nutanix Inc to open at $61.54, and during the day (based on 14 day Average True Range), to move between $60.03 and $64.35, which gives a possible trading interval of +/-$2.16 (+/-3.47%) up or down from last closing price. If Nutanix Inc takes out the full calculated possible swing range there will be an estimated 6.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $63.16 (1.56%) than the support at $59.04 (5.07%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Nutanix Inc stock A Buy?

Nutanix Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.901 Hold/Accumulate Unchanged

Predicted Opening Price for Nutanix Inc of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.