Long
Alteryx (AYX): low risk / high reward territory (buy)
Alteryx has strong fundamentals and is actually being adopted at my own F500 company. It was recently oversold on mixed earnings report.
Short term: 1-2 months
A likely retracement to the .382 fibonacci level or the 200 day moving average would yield 40-60%.
Long Term: 2+ years
I expect, like most stocks, they will revisit 2021 all-time-highs in 2 years after the fed has completed all of their rate cuts, i.e. 400% gain for AYX.
Note a recession or further quantitative tightening by the fed may force prices lower.
Short term: 1-2 months
A likely retracement to the .382 fibonacci level or the 200 day moving average would yield 40-60%.
Long Term: 2+ years
I expect, like most stocks, they will revisit 2021 all-time-highs in 2 years after the fed has completed all of their rate cuts, i.e. 400% gain for AYX.
Note a recession or further quantitative tightening by the fed may force prices lower.
Trade active
Note
I have added to my Alteryx bag at $38.30.Note
Alteryx stock has nearly retraced to the fibonacci golden pocket, however I expect it to continue past it following the lump pattern developed over the past year. Holding for now, and may take small profits if a better opportunity presents itself.Note
This trade setup went south, as most risk assets have struggled this year. However, news of a buyout was released yesterday resulting in a large spike. I sold 65% of my holdings at about a 5% loss, since there are many other risk assets that are relatively much more undervalued that I've reallocated to.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.