ANET – Weekly Fibo & Elliott Summary • The primary uptrend rema

ANET – Weekly Fibo & Elliott Summary
• The primary uptrend remains intact, but the stock is currently in a corrective phase.
• The impulsive Elliott cycle from ~60 to ~162 appears completed (Wave 5).
• Price is now developing a classic ABC correction.
• Wave A: 162 → ~120
• Wave B: ~120 → ~150
• Wave C: in progress
• Current price (~128–131) is trading between the 38.2% and 50% Fibonacci retracement, a neutral consolidation zone.
• Key support lies at the 50% retracement around 120, which is the most likely area for Wave C completion.
• A weekly close above 148 would invalidate the correction and turn the structure bullish again.
• A weekly close below 120 increases the risk of a deeper move toward the 61.8% retracement (~105).

Conclusion:
This is a corrective pause within a larger bullish structure. Patience is favored; the highest-probability accumulation zone is near 120.