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

By David Diaz

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 $135.39 and $135.66 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 $136.20, or 11.2% below the average consensus analyst price target of $153.38. The stock should find initial resistance at its 50-day moving average (MA) of $142.03 and further resistance at its 200-day MA of $142.77.

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 $136.20, 12% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 0.2%.

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