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Yearly Price vs. Trendline:Broken Resistance
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Trend Line Resistance Trend Line Support Resistance.

Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.

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- 2/16/2024 -
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Arista Net (ANET) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtBroken trend resistance lineBroken trend resistance line
Daily :Daily  MACD line has moved below its signal lineThe price is above the upper Bollinger Band
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It was the negative week for the Arista Net (ANET). During the week, the ANET dropped -20.70 points, or -7.33%, and closed at 261.75 on Friday, February 16, 2024. Weekly volume was 180% above average.

ANET is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ANET long-term trend chart]
A long-term uptrend had started on June 16, 2022 at 89.11 and reached 292.66 on February 12, 2024. ANET gained -203.55 points, or -228.43%, in 86 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (139.91) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See ANET medium-term trend chart]
A medium-term uptrend had started on May 4, 2023 at 131.68 and reached 292.66 on February 12, 2024. ANET gained -160.98 points, or -122.25%, in 40 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (194.72) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See ANET weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

Short-term trend: [See ANET short-term trend chart]
A short-term downtrend had started on February 12, 2024 at 292.66 and reached 255.94 on February 13, 2024. ANET lost 36.72 points, or 12.55%, in 1 days. The price is now at the 15.82% retracement level.

Daily Technical Indicators: [See ANET daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.01
Williams' Percentage Range (W%R) 74.40
Lane's Stochastic (%D-Slow) 32.76
Greed/Fear Indicator (GFI) 34.45
Moving Average Converg./Diverg. (MACD) 7.39
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 73.98
Williams' Percentage Range (W%R) 22.00
Lane's Stochastic (%D-Slow) 85.74
Overbought
Greed/Fear Indicator (GFI) 75.15
Moving Average Converg./Diverg. (MACD) 20.38
Trading Signals
Description Value Chart
Monthly Trendline Resistance 291.78
Parabolic System 290.78
Weekly Stochastic Crossing 281.96
Upper Bollinger Band 277.31
Monthly Trendline Support 272.83
20 Day Moving Average 267.99
Daily Stochastic Crossing 264.86
Price 261.75
Lower Bollinger Band 252.40
50 Day Moving Average 249.70
Quarterly Trendline Resistance 234.14
Yearly Trendline Resistance 226.85
Sector and Industry
Description Name Rank
Sector Information Technology 10
Industry Communications Equipment 72
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 292.66
High Date 02/12/2024
Low 255.94
Low Date 02/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 292.66
High Date 02/12/2024
Low 255.94
Low Date 02/13/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 291.78
Support 272.83
Low 168.25
Low Date 10/26/2023
High 292.66
High Date 02/12/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 234.14
Support 194.72
Low 131.68
Low Date 05/04/2023
High 292.66
High Date 02/12/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 226.85
Support 139.91
Low 89.11
Low Date 06/16/2022
High 292.66
High Date 02/12/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.