JUNE 21, 2020

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Smart

trading, and investing, often rely on patterns. Take them when they’re offered. Alteryx is offering one now. A breakout, over it’s pre-COVID high. This week will determine the shape of the “Alteryx. POP SHOW.”

 

CEO Dean Stoecker shakes loose data from his sleeve. Alteryx  was co-founded by Olivia Adams and billionaire Stoecker, who came out of the Rockies of Colorado and was educated at Pepperdine and the University of Colorado.  It worked.

Who

is Alteryx?  AYX is a “software as a service”(SaaS) business model.  The company automates the once utterly tedious and costly process of mashing and analyzing incompatible data.  Orange peels and coffee grounds go in, whatever, and out comes blended cleansed data, ready to be analyzed, by anyone.  Nice.

 

Alteryx is almost that good.  Who doesn’t love “democratized” date?  That is data that almost anyone can work with.  Alteryx is a mulcher.  Ram in an armload of decayed leaves, a string of Linux and a squirt of rum, and a PowerPoint twig.  All good–bam.  Out comes the analysis including predictions.  No data scientists required.  Got some of those?  Then you can do even more–nearly anything analytics can accomplish, and fast.

 

Anyone who reads us realizes we love Alteryx–the business and stock.  Shares of the Irvine-based data analytics software company surged 13% last week alone.  They’re up 61.4% YTD.  We believe there’s more to come right now.  Let’s look at the chart.

 

 

-Alteryx Inc. Daily-

The price-action’s pushed through pre-COVID high set on February 14th. RSI’s signaling early “overbought.” Buying pressure wiggled on such a signal in the opening days of February. Following said, AYX simply regained uptrend movement. We saw it again on May 26th. Then shares dropped from $150.63 to bottom at $133.10 on June 10th. That was a drop of 11.6%.  Once again the climb resumes(SJChart.)

Volume

analysis reveals that shares of Alteryx are under accumulation–buying pressure.  How?  The Up/Down volume ratio is 1.3; readings above “1” signal accumulation.  In addition, the longer-term Up/Down ratio slope is pointing upward.

 

 

The chart demonstrates Alteryx’s pattern of shallow pull-backs on elevated RSI readings; the latest, May 26th, a 11.6% buying opportunity.  We anticipate another.

 

 

AYX shares are trading above a rising  50-day SMA, demonstrating its’ strong technical condition.  Same story for the 200-day, indicating that the intermediate term is bullish. The coming week will tell the story.  We feel it will be good.  That’s why we launched this bit tonight.  Catch the full Alteryx story with the host of Sj’s informative pieces displayed just below in “Related.”  Enjoy–we do.  As always, good luck and good investing.

 

 

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Additional resources:

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