ANET, Arista Networks Inc. 10%+ Upside ANET
Trend/resistance line: Was stuck in a descending triangle (both on weekly and daily charts), recently broke out with volume and looking to fill the drop made after February correction.
Moving Averages(20/50): On the daily chart we can see a daily 20/50 cross giving a short-term bullish signal. More interesting is the 50ma cross over the price on 6/1/2018, and the positive price action afterward, again showing bullish sentiment for the upcoming days/weeks. There is a similar signal on the weekly chart with the 20ma/price.
RSI(14): Currently on the rise signaling increasing amounts of volume and increased momentum, vital after the chart breakout.
MACD (12, 26, close): Currently turning up on the weekly chart, looking to cross in the near future. MACD has already shown bullish on daily charts, which is what pushed the stock out of the descending wedge.
FIB Lines: Shown on the chart with the variety of colors, Possible consolidation in-between the 38 and 61% retracements (yellow). Have a very loose stop around the black line, as it is a relatively weak support if you were comfortable with more risk, the red may be best. I expect the stock to at least retrace to past highs.
Current position 8 shares @ 263.00
