The Greedy Trader Weekly Analysis
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Communications Equipment Industry Stocks Technical Analysis - ANET

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- 3/15/2024 -
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Arista Net (ANET) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtBroken 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 a first positive week for the Arista Net (ANET). During the week, the ANET gained 4.62 points, or 1.69%, and closed at 277.73 on Friday, March 15, 2024. Weekly volume was 22% above 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 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 (142.22) 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 price is now at the 9.27% retracement level.

Weekly Technical Indicators: [See ANET weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.

Short-term trend: [See ANET short-term trend chart]
A short-term downtrend had started on March 4, 2024 at 291.29 and reached 263.60 on March 11, 2024. ANET lost 27.69 points, or 9.51%, in 7 days. The price is now at the 51.03% 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) 52.92
Williams' Percentage Range (W%R) 31.70
Lane's Stochastic (%D-Slow) 56.84
Greed/Fear Indicator (GFI) 59.36
Moving Average Converg./Diverg. (MACD) 4.96
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.31
Williams' Percentage Range (W%R) 10.80
Overbought
Lane's Stochastic (%D-Slow) 72.69
Greed/Fear Indicator (GFI) 73.16
Moving Average Converg./Diverg. (MACD) 22.75
Trading Signals
Description Value Chart
Upper Bollinger Band 294.62
Parabolic System 289.41
Weekly Stochastic Crossing 281.74
Daily Stochastic Crossing 279.86
Price 277.73
20 Day Moving Average 275.21
50 Day Moving Average 266.62
Lower Bollinger Band 257.58
Yearly Trendline Resistance 231.78
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Communications Equipment 78
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 285.75
High Date 03/14/2024
Low 276.08
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 291.29
High Date 03/04/2024
Low 263.60
Low Date 03/11/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 253.08
Low Date 02/21/2024
High 291.29
High Date 03/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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 231.78
Support 142.22
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.