As we approach the all time highs on Arista Networks, technically the price has been in the range of upside since 2023, and looks gain more traction as we approach a key moment for the future of ANET. This sector, electronic tech sector should continue to gain traction so long as the markets sentiment around tech stocks, semiconductor equities continue to rise. The volume has been increasing and the sentiment around this company has been quite strong in recent months. The technical are aligning as we observe the two charts below daily to the left and weekly to the right. Price is in a clear uptrend no doubt, although of the last 6/9 days have been bullish the 3 days being bearish, the most recent long wick/shadows or big bodied candled has provided an increase runway leading into earnings. The momentum based on the moving average convergence divergence (in purple) is quite strong and there is a quite a gap between the signal line and macd line. The histograms overshadows the previous bearish bars.
JUST be aware we are reaching OVERBOUGHT region in regards to price action but if buyers continue to step in and risk on continued success from ANET this could be a good opportunity to go long or you could set up put options against this analysis.
JUST be aware we are reaching OVERBOUGHT region in regards to price action but if buyers continue to step in and risk on continued success from ANET this could be a good opportunity to go long or you could set up put options against this analysis.
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