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

By James Quinn

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 $135.19 and $136.09 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.

There is potential upside of 15.7% for shares of F5 Networks based on a current price of $132.59 and an average consensus analyst price target of $153.38. The stock should run into initial resistance at its 50-day moving average (MA) of $140.77 and subsequent resistance at its 200-day MA of $141.93.

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.

Over the past year, F5 Networks has traded in a range of $121.36 to $173.44 and closed yesterday at $132.59, 9% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.4%.

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