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Advanced TA SearchArchive
- 7/19/2024 -
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Arista Net (ANET) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Arista Net (ANET). During the week, the ANET dropped -31.19 points, or -8.62%, and closed at 330.56 on Friday, July 19, 2024. Weekly volume was -16% below average.
 Long-term trend: [See ANET long-term trend chart]
A long-term uptrend had started on June 16, 2022 at 89.11 and reached 376.50 on July 9, 2024. ANET gained -287.39 points, or -322.51%, in 107 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 182.85 and resistance is at 348.59. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See ANET medium-term trend chart]
A medium-term uptrend had started on April 22, 2024 at 240.32 and reached 376.50 on July 9, 2024. ANET gained -136.18 points, or -56.67%, in 11 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (370.52) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ANET may retest the broken support line. It is considered to be a resistance line now. 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 support 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.
The weekly MACD line is above its signal line since June 7, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See ANET short-term trend chart]
A short-term downtrend had started on July 9, 2024 at 376.50 and reached 326.69 on July 18, 2024. ANET lost 49.81 points, or 13.23%, in 9 days. The price is now at the 7.77% retracement level.
 Daily Technical Indicators: [See ANET daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since July 11, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.
Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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