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Advanced TA SearchArchive
- 4/5/2024 -
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Arista Net (ANET) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Arista Net (ANET). During the week, the ANET gained 7.62 points, or 2.63%, and closed at 297.60 on Friday, April 5, 2024. Weekly volume was -18% below average.
ANET is a member of Information Technology Sector. Information Technology is the second 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 307.74 on March 22, 2024. ANET gained -218.63 points, or -245.35%, in 92 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (143.93) 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 February 21, 2024 at 253.08 and reached 307.74 on March 22, 2024. ANET gained -54.66 points, or -21.60%, in 4 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 278.17 and resistance is at 318.31. 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 medium-term trend.
 Weekly Technical Indicators: [See ANET weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.
 Short-term trend: [See ANET short-term trend chart]
A short-term downtrend had started on March 22, 2024 at 307.74 and reached 284.07 on March 27, 2024. ANET lost 23.67 points, or 7.69%, in 5 days. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (284.91) is broken. A broken support is considered to be a long-term bullish signal. 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 short-term trend.
 Daily Technical Indicators: [See ANET daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 27, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger. 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.
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