Nutanix Stock Scores Relative Strength Rating Rise To 91
When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Nutanix stock, which saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 88 to 91.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's unique RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against all other stocks in our database.
History shows that the best-performing stocks typically have an RS Rating of over 80 at the beginning of a new run.
Is Nutanix Stock A Buy?
Nutanix stock has climbed more than 5% past a 38.09 entry in a first-stage double bottom, meaning it's now extended and out of a proper buy range. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips. Also, check out "Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks."
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 33%, compared to 0% in the prior report. Revenue increased from 8% to 19%.
Nutanix stock holds the No. 36 rank among its peers in the Computer Software-Enterprise industry group. Concentrix Corp, Docusign and Dynatrace are among the top 5 highly rated stocks within the group.