6th week of the buy signal, first fatigue signs
Arista Networks stock +3.7%: the buy signal cools near record highs
6th week of the buy signal, first fatigue signs
Our view last week
The double bottom in the 153 area from two weeks ago keeps paying off: this week Arista Networks adds another 3.2%, pressing against the upper edge of the no-trade zone, in the 179 area, with sellers steadily losing ground. In this Arista Networks technical analysis the buy signal, now in its 5th week, is showing its first signs of fatigue: the disciplined move is to wait for a pullback before adding weight.
This week's summary
Arista Networks stock closes the week up 3.7%, powered by a 15% bounce off the daily 20-day moving average touched days earlier. The price is back near its all-time highs, already tested twice over the past ten weeks. In this Arista Networks technical analysis the buy signal, now in its 6th week, is showing signs of fatigue among tech stocks — volumes rising on down days and a weak last candle — just as quarterly earnings approach, due this week.
IQS Phase
60
ordinary
Signal Strength
59
medium
Sizing
STANDARD
Ranking
#58 / 120
US stocks in progress
Trade P&L %
+6.29%
from signal to date, no stop loss
Rank position
ranks 58th among the 120 Longs already running for US stocks in our ranking, with a signal strength of 59 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -0.30% · monthly -5.53%
ANET belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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