Nutanix Lower Off Post-Earnings Selling Pressure

Nutanix Inc NTNX shares are trading lower by $1.26 (4.8 percent) at $20.74 in Tuesday's session.

On Friday, Nutanix reached $24.19 after its better-than-expected Q4, but couldn't hold its early gains and ended the session unchanged at $22.00. The stock, which previously had seven closes between $21.90 and $22.20, couldn't clear that congestion area off today's open and began to move lower.

The ensuing decline took Nutanix all the way to $20.02, but rebounded back to the upper $20.00 handle. That low comes just under its July 13 close ($20.27). The next day it rallied to $22.12, when it was added to the 'Conviction Buy' list at Goldman Sachs.