240 looking like solid support here for AristaI've been eyeing this area for quite some time now and I think this is a great area to consider a position.
ANET trade ideas
This pullback to the 100MA looks attractive, but...I'm not quite comfortable with the choppiness of the SP500. Will have to continue to wait and see what happens next. :)
Long term Bull short term under some pressure.1. The store still moves within the uptrend channel which starts since 2016 (Bull)
2. Short term the stock shows LH and HL pattern. (Neutral)
3. In a slaughter day, the stock still gets support at its 10-week MA (Bull)
4. Did not close above the Fib 0.382 / 274 (Bear)
Conclusion
1. The market is waiting for the ER report.
2. If the report is good (High probability), it has a large chance going to ATH.
Break of 202.50 might have room to run.Break of 202.50 might have room to run. Looks like the shorts failed with the long tail on Friday.
ANET - Earnings play with possible H&S, $145 September PutsPossible Earnings Play. Insider selling as well as a break down with possible H&S. Reports after market Thursday August 3rd.
* Trade Criteria *
Date First Found- August 2, 2017
Pattern/Why- Possible H&S, Option play on earnings
Entry Target Criteria- Would look at $145 September Puts - Currently 10.10
Please check back for Trade updates. (Note: Trade update is little delayed here.)
