Last Friday (2.28.2019), 
NTNX had a major gap-down making it a 40% decline YTD. From a fundamental investor perspective this looks quite attractive as it is down more than 20% on the year. However, from a technical trading perspective I think this security may see continuation to the downside in the coming trading days as it has gapped down on high volume and blown through prior support/resistance (support that was prior resistance and dated back to early IPO days).
As a hyperconverged data-center and enterprise solution provider at around $6B in market cap, I believe this security has a bright future (in several years and assuming global macro conditions sustains itself). Until then the short to mid term trading, i.e. days to weeks, looks to perform quite poorly. I would be eyeing this security at the 30s, but if it decides to hover above 35 then I think there is room for a quick retracement to the upside here.
youtu.be/56AfCB5H6vA
Preferred Trading Tools I Leverage:
• Finviz: finviz.com/?a=100613214
• GuruFocus: goo.gl/TxAFJQ
NTNX had a major gap-down making it a 40% decline YTD. From a fundamental investor perspective this looks quite attractive as it is down more than 20% on the year. However, from a technical trading perspective I think this security may see continuation to the downside in the coming trading days as it has gapped down on high volume and blown through prior support/resistance (support that was prior resistance and dated back to early IPO days). As a hyperconverged data-center and enterprise solution provider at around $6B in market cap, I believe this security has a bright future (in several years and assuming global macro conditions sustains itself). Until then the short to mid term trading, i.e. days to weeks, looks to perform quite poorly. I would be eyeing this security at the 30s, but if it decides to hover above 35 then I think there is room for a quick retracement to the upside here.
youtu.be/56AfCB5H6vA
Preferred Trading Tools I Leverage:
• Finviz: finviz.com/?a=100613214
• GuruFocus: goo.gl/TxAFJQ
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