PSTG Technical Analysis - PURE STORAGE INC - CLASS A

Technical Rating and Analysis

We assign a technical rating of 10 out of 10 to PSTG. Both in the recent history as in the last year, PSTG has proven to be a steady performer, scoring decent points in every aspect analyzed.

The long and short term trends are both positive. This is looking good!

Looking at the yearly performance, PSTG did better than 92% of all other stocks.

PSTG is one of the better performing stocks in the Technology Hardware, Storage & Peripherals industry, it outperforms 78% of 33 stocks in the same industry.

PSTG is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so PSTG is lagging the market slightly.

PSTG has an average volume of 3120500 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

In the last month PSTG has a been trading in the 74.50 - 89.09 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

PURE STORAGE INC - CLASS A / PSTG Weekly stock chart

PURE STORAGE INC - CLASS A / PSTG Daily stock chart

Setup Rating and Analysis

Although PSTG has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

53.93

89.17

We found 5 important support areas.

A support zone ranging from 82.39 to 82.39. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @62.67 from a trend line in the weekly time frame.
Support @60.61 from a trend line in the daily time frame.
A support zone ranging from 58.42 to 58.45. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @54.47 from a horizontal line in the daily time frame.

We found 1 important resistance area.

A resistance zone ranging from 87.87 to 88.29. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for PSTG is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for PSTG is up.
ChartMill Relative Strength	92.56	POSITIVE	PSTG has a high relative strength, it outperformed 92.56% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	MIXED	The current price of PSTG is below the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of PSTG is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of PSTG is above the rising SMA(200).
Relative Strength Index/RSI (14)	60.27	NEUTRAL	The RSI value for PSTG is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.92	NEGATIVE	The MACD value suggests PSTG has a negative trend.
Stochastics (14,3)	49.08	NEUTRAL	The Stochastics value for PSTG is a neutral value.
Average True Range in percent/ATR (20)	3.09	MEDIUM VOLATILITY	The ATR as a percentage value for PSTG suggests some volalility.
Average Directional Index/ADX (14)	39.51	POSITIVE	The high ADX value value for PSTG suggests a strong trend.