One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Nutanix stock now clears that threshold, with a jump from 74 to 84 Wednesday.
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This proprietary rating tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of other stocks on the major indexes.
History reveals that the best stocks tend to have an 80 or better RS Rating as they launch their biggest runs.
Is Nutanix Stock A Buy?
Nutanix stock is working on a consolidation with a 79.99 entry. See if it can break out in volume at least 40% above average. This is not the time to buy stocks during a market correction, but build a watchlist of possible emerging leaders once the market trend turns around.
The computer software company showed 22% earnings growth in the latest quarterly report. Revenue increased 16%.
Nutanix stock earns the No. 25 rank among its peers in the Computer Software-Enterprise industry group. Palantir Technologies, Paycom Software and Paylocity Holding are among the top 5 highly rated stocks within the group.
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