Look For This Stock To Bounce From Here

Alteryx, Inc. (NYSE: AYX) seems to be poised for a price surge as per its latest charts. The company operates in the analytic process automation business in the Asia-Pacific, Europe, the Middle East, Africa, Latin America, and internationally. The company’s analytics platform enables organizations to enhance business outcomes and the productivity of their business analysts, data scientists, citizen data scientists, and data engineers.

Bullish Indications

#1 Symmetrical Triangle Pattern Breakout: The daily chart shows that the stock had recently formed a Symmetrical Triangle pattern. This is a continuation pattern and is characterized by two converging trend lines connecting a series of sequential peaks and troughs. This pattern is marked on the daily chart as purple color lines. The breakout from a symmetrical triangle pattern usually signifies a bullish move. Currently, the stock has broken out of the symmetrical triangle pattern which is a possible bullish sign.

See eight more bullish indications and a recommended trade based on the charts…

This post originally appeared at TradesOfTheDay.com.

 

Category: Options Trading Strategy

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