New record high on thinner volumes
Arista Networks gains 4.5% to a new all-time high as volumes thin out
Our view last week
Arista Networks closed up 0.4% in a week that took it close to its all-time high without clearing it, while the rebound off the 20-day average, in the 201 area, held. The weekly ADX has been rising for 9 weeks and money flow keeps improving. A week ago the MACD histogram was turning higher: now it slips again, the detail this technical analysis of Arista Networks stock puts up front. A patient swing trading picture, among tech stocks near record territory.
This week's summary
Arista Networks prints a new all-time high and confirms it on the weekly close: up 4.5%, its third straight positive week. A week ago the record was only approached and the MACD histogram was slipping; now price is through and the histogram turns up again, with the ADX rising for 10 weeks. The flaw is in volumes, contracting right on the break. For this technical analysis of Arista Networks stock, the price action is what to watch, with earnings on November 3 approaching.
IQS Phase
73
in tension
Signal Strength
35
medium · weak
Sizing
REDUCED
Ranking
#82 / 92
US stocks in progress
Trade P&L %
+27.74%
from signal to date, no stop loss
Arista Networks (ANET) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 82nd among the 92 Longs already running for US stocks in our ranking, with a signal strength of 35 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly -0.52% · monthly +5.81%
ANET belongs to the growth tech sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
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