ANET
ANET, Arista Networks Inc. 10%+ Upside ANET
Trend/resistance line: Was stuck in a descending triangle (both on weekly and daily charts), recently broke out with volume and looking to fill the drop made after February correction.
Moving Averages(20/50): On the daily chart we can see a daily 20/50 cross giving a short-term bullish signal. More interesting is the 50ma cross over the price on 6/1/2018, and the positive price action afterward, again showing bullish sentiment for the upcoming days/weeks. There is a similar signal on the weekly chart with the 20ma/price.
RSI(14): Currently on the rise signaling increasing amounts of volume and increased momentum, vital after the chart breakout.
MACD (12, 26, close): Currently turning up on the weekly chart, looking to cross in the near future. MACD has already shown bullish on daily charts, which is what pushed the stock out of the descending wedge.
FIB Lines: Shown on the chart with the variety of colors, Possible consolidation in-between the 38 and 61% retracements (yellow). Have a very loose stop around the black line, as it is a relatively weak support if you were comfortable with more risk, the red may be best. I expect the stock to at least retrace to past highs.
Current position 8 shares @ 263.00
ANET - Earnings play with possible H&S, $145 September PutsPossible Earnings Play. Insider selling as well as a break down with possible H&S. Reports after market Thursday August 3rd.
* Trade Criteria *
Date First Found- August 2, 2017
Pattern/Why- Possible H&S, Option play on earnings
Entry Target Criteria- Would look at $145 September Puts - Currently 10.10
Please check back for Trade updates. (Note: Trade update is little delayed here.)
ANET - Quick short from 72.87 to 70.13
ANET - Short
Trade Logic: Insider selling, Quick SHORT trade from around upper channel line towards Lower channel line.
Entry: 72.87
Target: 70.13
Stop-Loss: 73.53
You tube link: drive.google.com
Time Span: 5:35”
ANET- For Shorting its all about whether a bear channel shows up10-15 Now that the low risk short sell entry point has
passed (along with most others) what do we want to
look at on a bounce (when and IF that is)? The answer
can be found in the orange lines and the red resistance line. The answer is to watch
for a bear channel to build then upon completion its all
about a downside break of the orange lines AT THAT TIME.
What if the pattern doesn't build out? Then there is nothing
to talk about. No pattern no trade.
Trade at your own risk, these are not recommendations.
For informational and educational purposes only
For those who like to buy support? Here is one to keep an eye onAs you can see this issue broke out of a base and went on a tear like many other recent IPO's.
you can also see that its finally getting the look of pulling back. Its really just a question of how far and when and where does it stabilize. We know where major support is, its just a matter of seeing it get tagged.
For informational and educational purposes only, trade at your own risk, these are not recommendations.
