OT: $$NTNX Breakout

Despite my views of market volatility, NTNX broke out from a nice base today on high volume. I increased my position by 2/3rds on this nice move.

My last check showed the buy point at 38.90, or 10 cents above the old high. We closed at 38.89, so technically you could say it was not a proper buy yet. I could also make an argument that a handle formed with a buy point just below $37. I had not done my research on that, but when my alerts fire off today I liked what I saw.

The market seems to be adjusted to the tariff rhetoric, but we will see. No one should be surprise to see a test of the recent bottom, that is very common. Build you list of stocks you would love to buy on sale.


Also bought my trial position in PAGS.


a test of the recent bottom
happens more often than not. I have studied this in general market bear bottoms but have found no way to predict whether it will happen or not. Single bottom spikes are definitely the exception in general market bottoms.

But I suspect single bottoms is considerably more common in individual stocks during a bull market. I seldom time individual stock purchases .

NTNX broke out from a nice base today on high volume.

Hi P.

What are you considering the base? The 70wk cup looks too deep (-69%) with no initial trend but I may be missing something as I haven’t looked at TA in a long while.

Greg, long NTNX

Greg, I am not looking at the 70wk cup, and you are right, that was too deep and ugly so we ignore it.

But we came out of that with a long run up and then based. Some might argue that the $38.28 was the start of a base, and it was, but it did not play out properly. It would have been a flat base and it had the 5 week minimum for a flat base, but there was not break out on volume. We just creeped up beyond $38.28 and then fell into our current base. We hit the newer high of $38.80 in Jan and then we got a correction/base that formed a nice cup. You can see that Friday’s post earnings report caused high volume buying that shot the stock up to a hight of 38.90 (the buy point) and a close a penny below. I suspect we will get more buying Monday as the big boys never finish their meal right away. Us little guys don’t eat so much so we can fill up and skip the pricey dessert.

As a bounus, the RS Rating is 96 and its RS line is hitting new highs, a good sign if you are a TA kind of guy.


Greg, IBD MarketSmith has a fee trial this coming week (no credit card needed). You should check it out as it is powerful tool.

I posted link here