We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nutanix (NTNX) Just Flashed Golden Cross Signal: Do You Buy?
Read MoreHide Full Article
Nutanix (NTNX - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, NTNX broke through the 20-day moving average, which suggests a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
NTNX has rallied 12.5% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests NTNX could be on the verge of another move higher.
The bullish case solidifies once investors consider NTNX's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, while the consensus estimate has increased too.
Investors may want to watch NTNX for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Nutanix (NTNX) Just Flashed Golden Cross Signal: Do You Buy?
Nutanix (NTNX - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, NTNX broke through the 20-day moving average, which suggests a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
NTNX has rallied 12.5% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests NTNX could be on the verge of another move higher.
The bullish case solidifies once investors consider NTNX's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, while the consensus estimate has increased too.
Investors may want to watch NTNX for more gains in the near future given the company's key technical level and positive earnings estimate revisions.