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

By David Diaz

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 $154.28 and $154.28 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 (NASDAQ:FFIV) is currently priced 0.6% above its average consensus analyst price target of $153.38. The stock should run into initial resistance at its 50-day moving average (MA) of $162.26 and subsequent resistance at its 200-day MA of $173.20.

In the past 52 weeks, F5 Networks share prices have been bracketed by a low of $138.67 and a high of $199.71 and closed yesterday at $154.26, 11% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.2%.

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.

SmarTrend recommended that its subscribers protect gains by selling shares of F5 Networks on March 5th, 2019 by issuing a Downtrend alert when the shares were trading at $162.69. Since that call, shares of F5 Networks have fallen 5.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle F5 Networks

Ticker(s): FFIV