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Look for Shares of Arista Networks to Potentially Pullback after Yesterday's 2.07% Rise

By David Diaz

Arista Networks (NYSE:ANET) traded in a range yesterday that spanned from a low of $293.37 to a high of $299.59. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $296.00 on volume of 354,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Arista Networks has traded in a range of $187.08 to $313.37 and is now at $297.92, 59% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.8% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of Arista Networks on February 11th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $229.02. Since that recommendation, shares of Arista Networks have risen 27.8%. We continue to monitor ANET for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders arista networks

Ticker(s): ANET