F5 Networks Has Fallen And Can't Get Up

Published 09/26/2017, 11:52 AM
FFIV
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Many traders and investors are asking me if this is a good time to buy F5 Networks (NASDAQ:FFIV). The simple answer is 'no.' This stock has been declining since March when it traded as high as $149.50 a share. Today, FFIV is trading around $118.80 a share.

Levels To Watch

Traders should note that the stock has been forming a bearish consolidation pattern as it hovers along the weekly 200-period moving average. This chart formation usually leads to lower price soon. Traders looking to buy FFIV stock must now look at the $102–$103 price area, which is where the institutional money defended the stock in March 2016 and will likely support it again when retested.

F5 Networks

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