The fundamentals:
Alteryx delivered another strong quarter, despite fears that growth is slowing. However, the stock price fell back down after a short run-up to earnings. Long term, AYX still looks good and will likely continue to deliver strong results.
The technicals:
RSI is hovering around 50, signaling a decent entry point. It is currently trading around 13% down from the ATH of $39.21. EMA50 has always been above EMA200 (although the IPO was only about a year ago), signaling that the bullish momentum is strong. Implied volatility (IV30) is around 50 - while this is relatively low for AYX, it does also make options riskier compared to your typical blue-chips.
The play:
Short term target: $38
Long term: expect new ATH by the next earnings report if Alteryx maintains this momentum. Covered calls/"poor man's covered calls" is a good play, given the currently "low" IV.
Alteryx delivered another strong quarter, despite fears that growth is slowing. However, the stock price fell back down after a short run-up to earnings. Long term, AYX still looks good and will likely continue to deliver strong results.
The technicals:
RSI is hovering around 50, signaling a decent entry point. It is currently trading around 13% down from the ATH of $39.21. EMA50 has always been above EMA200 (although the IPO was only about a year ago), signaling that the bullish momentum is strong. Implied volatility (IV30) is around 50 - while this is relatively low for AYX, it does also make options riskier compared to your typical blue-chips.
The play:
Short term target: $38
Long term: expect new ATH by the next earnings report if Alteryx maintains this momentum. Covered calls/"poor man's covered calls" is a good play, given the currently "low" IV.
Comment:
The last few days have been good. It can make another strong rally if it breaks ATH
Trade closed: target reached