Reasons for bullish bias:
- Entry at HH breakout(DOW)
- Price bounce from trendline
- Positive Earnings
Here are the recommended trading levels:
Entry Level(CMP): 313.85
Stop Loss Level: 283.76
Take Profit Level 1: 343.94
Take Profit Level 2: 363.20
Take Profit Level 3: Open
Arista Networks ( NYSE:ANET ), a prominent player in cloud networking solutions, recently reported its fourth-quarter earnings, surpassing profit expectations but issuing a lukewarm forecast for the upcoming quarter. Despite strong revenue growth driven by robust demand from tech giants like Microsoft and Meta Platforms, Arista's ( NYSE:ANET ) shares took a hit...
Analyzing the options chain and the chart patterns of ANET Arista Networks prior to the earnings report this week,
I would consider purchasing the 280usd strike price Calls with
an expiration date of 2024-2-16,
for a premium of approximately $18.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Just as the greek word, the chart here looks excellent...There's both a daily and a monthly uptrend signal active, which gives this stock tremendous reward to risk potential long term. I am not a huge fan of the valuation, so I was skeptical to get involved but perhaps I am missing something regarding fundamental catalysts for the stock going forward, perhaps...
