I have been talking about NTNX for a little bit. If you are a reader, you would have gotten my quick thoughts on it before it broke out again.
I want to take a look at this company as the price and story seem like it can become a leader.
Company Profile
Nutanix makes clouds invisible, freeing customers to focus on their business outcomes. We leverage our industry leading, 100% software-defined hyper converged infrastructure to provide a single cloud platform that seamlessly brings to life your hybrid multicloud strategy. Whether on-prem or in the cloud, you get unified management and operations with one-click simplicity, intelligent automation, and always-on availability.
The topline business growth is interesting. The industry is highly appealing. And the chart is enticing. Will this work? Who knows, but its a great start!
Charts
The daily chart gave ample clues as to if this name had potential. On breakouts, I enter using the range expansion method below
I would not get long this stock at these levels if you did not buy early yesterday. I think the setup has passed. Instead, I would now keep it on your watchlist and see if a backtest of the breakout pivot holds or if another setup emerges.
—NS