Arista Networks pulls back, holds the 50-day line
Arista Networks drops 9.8% but holds the 50-day average
Arista Networks pulls back, holds the 50-day line
Our view last week
The double bottom from two weeks ago held: this week Arista Networks bounced 16.9%, with 87% of daily volume on the buy side and money flow back in positive territory. Price is now within a whisker of its all-time high, boxed between the 7-day high resistance and the daily pivot average. The buy signal is in its third week and the dynamic stop already locks in most of the gain; the stock has already tested the highs once, so the disciplined move is to wait for a pullback before adding weight.
This week's summary
After last week's 16.9% rally, Arista Networks gave back 9.8% this week, but the drop stopped right at the daily 50-day average (the 164 area), where the stock bounced 3%: price still holds above the Ichimoku cloud. Daily money flow stays positive, with 80% of volume on the buy side, and sellers are losing ground. The buy signal is in its fourth week and the highs are close, but already tested more than once: the disciplined move is to wait for a deeper pullback before adding weight.
IQS Phase
59
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#43 / 112
US stocks in progress
Trade P&L %
-0.62%
from signal to today
restricted Platinum content