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

By Amy Schwartz

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 $147.21 and $149.01 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.

In the past 52 weeks, shares of F5 Networks have traded between a low of $79.78 and a high of $153.99 and closed yesterday at $148.47, which is 86% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.

There is potential upside of 3.3% for shares of F5 Networks based on a current price of $148.47 and an average consensus analyst price target of $153.38. The stock should find initial support at its 200-day moving average (MA) of $131.93 and further support at its 50-day MA of $118.53.

SmarTrend recommended that subscribers consider buying shares of F5 Networks on March 20th, 2020 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $100.84. Since that recommendation, shares of F5 Networks have risen 47.8%. We continue to monitor FFIV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle F5 Networks

Ticker(s): FFIV