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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in F5 Networks (NASDAQ:FFIV) based on the price action in the company's shares. Yesterday's price range of $142.38 and $143.02 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. Traders and investors interested in shares of F5 Networks may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

F5 Networks has overhead space with shares priced $142.65, or 7.0% below the average consensus analyst price target of $153.38. The stock should find initial resistance at its 50-day moving average (MA) of $157.51 and further resistance at its 200-day MA of $169.55.

F5 Networks, Inc. develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems.

F5 Networks share prices have moved between a 52-week high of $199.71 and a 52-week low of $141.05 and closed yesterday at 1% above that low price at $142.65 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.8%.

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: bullish am inside day candle F5 Networks

Ticker(s): FFIV