NTNX high teens on the horizonCurrently trading at a 4 months low, Nautanix issued a weak Q3 guidance prompting the stock trade in an all time low territory. Fundamentals aside, trading over 10 times more than average volume on Friday and short float at 31%, I'd expect some sort of bounce early next week and would look for an entry around $24 or $25 if it can get up there to play on the short side. I'd expect NTNX to trade at high teens in next few weeks if it continues to trend downwards.
More details here : blog.buysellshortcover.com
Trading-ideas
Potential LONGS USD/JPYPrice has consolidated above monthly support at 112.00 with the weekly chart showing a strong hammer candlestick pattern signaling a reversal is soon due. Along with daily showing us a morning star pattern and bullish engulfing patterns, with a break above the daily trend line shown we are potentially looking at at 117.000 being the target as key weekly and monthly resistance. I am not a huge fan of indicators at all but we also see a clear upswing in the RSI and has potential to go further following a confirmation in price. Threw a Fibo at the end of this analysis ;)
QQQ: Taking the Lead HigherFor detailed commentary and discussion, please refer to our blog post published on 7/23/14: www.syncubate.com
The bald eagle can fly, but US markets seem to put it to shame, flying even higher, with QQQ taking the lead. A National Symbol change may be in order here, but I digress.
Since the mid-April lows just below $84, QQQ is now up over $14. Quite a run, no doubt.
Notably, the 50 Day MA is approaching the late June $93 congestion zone on the chart.
Despite the continued rise in QQQ, the ADX is pointing down, so what we're really seeing here is a market trapped in a range trade on the daily time frame, with the bulk of the recent trending move higher behind us for now.
QQQ: Tug of WarFor detailed analysis, please see our blog post dated 7/20/14: www.syncubate.com
A tug of war is in play here between the bulls and the bears.
This is now the second time since the beginning of July that the 20 Day MA has served as a support on a pullback.
Although Friday's trading action was no doubt bullish, -DMI is still poking its head up above +DMI, as noted by the red arrow on the chart, so the bears are still in the game.
If the 20 Day MA can't hold on any subsequent pullback, I would look for the 50 Day MA to hold next, possibly when it gets to around $93, which would also correspond to the end of June breakout level. The 50 Day MA is currently resting at $92.09.
TSLA: Resistance OverheadThe $240 area for TSLA has been a formidable resistance level both in the recent run up as well as back in March after the pullback from all time highs above $260, as noted on the chart.
Today's candle may be indicative of a temporary relief in selling pressure, as bulls swept in and bought the stock at the lows just under $215 to close for the day at $219.
If the overall markets continue to pullback, it will be interesting to see if the stock can hold the $210 area, as this was the breakout level for June run up.
Blog post dated: 07/08/2014: www.syncubate.com
Zillow: Trending Move AnalysisIn reviewing the daily chart for Z, the strong uptrend since the middle of May has continued without any significant sell off. Note that there are several price levels to keep an eye on during any pullback, as noted on the chart.
In the near term, the $140 and $130/$132 levels are support. The stock broke through $140 with conviction early last week after struggling with it the week before. Despite pulling back from the highs and retesting $140, the stock held above it for the close on 7/3/14.Seems the stock wants higher still.
Blog post dated 07/05/2014: www.syncubate.com
WWE: Rise After the Fall?WWE has found a floor of support below $11 and has been trading between $11 and $12 for over a month. The $12 level is near term resistance, and price action seems to indicate that buyers want in more then they want out after the significant sell off in recent months.
On a fundamental level, the company is struggling to prove the viability of its streaming online WWE Network. Nonetheless, the company is advancing new stars such as Roman Reigns, Dean Ambrose, and Seth Rollins. Perhaps a focus on newer talent is what the WWE needs to reignite interest from its established fan base. The question is: will it reignite interest from investors as well?
Blog Post dated 07/06/2014: www.syncubate.com