ANET trade ideas
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.)
ANET
The increase in revenue each quarter + strong performance of the sector + new historical maximum. The further growth of this stock can prevent unless the bear market. Breaking bull flag is a good point to buy
ANET new ATHArista Networks been one powerful stock clearing its ATH today bucking the weakness in Nasdaq stocks. Bodes well for the target 30 points higher to 115-120.
ANET - Quick short from 72.87 to 70.13
ANET - Short
Trade Logic: Insider selling, Quick SHORT trade from around upper channel line towards Lower channel line.
Entry: 72.87
Target: 70.13
Stop-Loss: 73.53
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Time Span: 5:35”
