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Possible Bearish Inside Day Candle Pattern Detected for F5 Networks (NASDAQ:FFIV)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in F5 Networks (NASDAQ:FFIV) based on the price action in the company's shares. Yesterday's price range of $126.62 and $127.96 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of F5 Networks may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

F5 Networks, Inc. provides integrated Internet traffic management solutions designed to improve the availability and performance of mission-critical Internet-based servers and applications. The Company's software-based solutions manage, control, and optimize Internet traffic and content. F5's solutions automatically deliver Internet content for service providers and e-businesses.

F5 Networks share prices have moved between a 52-week high of $173.44 and a 52-week low of $121.19 and closed yesterday at 5% above that low price at $127.51 per share. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 1.4%.

F5 Networks has overhead space with shares priced $127.51, or 16.9% below the average consensus analyst price target of $153.38. The stock should find initial resistance at its 50-day moving average (MA) of $134.48 and further resistance at its 200-day MA of $138.80.

SmarTrend is tracking the current trend status for F5 Networks and will alert subscribers who have FFIV in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle F5 Networks

Ticker(s): FFIV