Pure Storage jumped to a new record high on strong earnings last month. Now, after a few weeks of consolidation, some traders may expect further upside.
The first pattern on today’s chart is the bullish gap on February 29. The data-storage company has remained completely above the gap, which may suggest there are few sellers.
Second, prices held the rising...
All indicators show that the price is inflated. If the price sticks to the Bollinger upper band, it frees itself from the band, there is a possibility of falling to 22 exponential average. The other average is 50 exponential.
Analyzing the options chain and the chart patterns of PSTG Pure Storage prior to the earnings report this week,
I would consider purchasing the 36usd strike price Puts with
an expiration date of 2023-9-15,
for a premium of approximately $2.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking...
Bullish pennant for PSTG on the Weekly chart.
Not confirmed.
Pros:
1- PPS above 50MA and 200MA
2- RS above 0 but barely
3- R/R ratio above 5
4- 250RSI above 50 and climbing
5- 50MA above 200MA
6- Both 50MA and 200MA ascending
7- Golden cross circled in Marth 2021
8- Post formed with volume
9- Descending volume during pennant forming
Cons:
1- Figure is not...
NYSE:PSTG in the data storage industry breaking out from a fisrt base after it bottom.
NASDAQ:SPSC in the computer software industry, specifically in supply chain solutions, breaking out from a fisrt base after the bottom.
Both are 1st in their IBD Industry Rank.
PSTG made a cup that could fuel a good move, and SPSC has its next resistance +25% away.
Which...
PSTG setting up a extreme bottom bounce pattern and going long over the next week with presentations at 3 conferences through sept 13
by iCantw84it
09.07.22
PSTG reported solid figures yesterday and provided guidance above consensus expectations. The company has positive Free Cash Flow and attractive valuation. In our view, we may watch for an attractive entry around $28.0 (this level provides solid technical support) with lower risk. On good days on the stock market PSTG is definitely set to run to its price target...
Notes:
* Steady up trend on all time frames
* Great earnings track record
* Basing for the past ~8 months
* Pulled back to its 20 day line and is now moving higher with volume
Technicals:
Sector: Technology - Computer Hardware
Relative Strength vs. Sector: 3.54
Relative Strength vs. SP500: 6.42
U/D Ratio: 1.24
Base Depth: 64.4%
Distance from breakout buy...
