Arista Networks Inc Stock Forecast
Arista Networks Inc stock price up 1.43% on Wednesday
(Updated on Apr 24, 2024)
The Arista Networks Inc stock price gained 1.43% on the last trading day (Wednesday, 24th Apr 2024), rising from $251.18 to $254.77. During the last trading day the stock fluctuated 4.10% from a day low at $250.59 to a day high of $260.86. The price has fallen in 7 of the last 10 days and is down by -11.61% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 343 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $594.32 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $245.79 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.35% during the next 3 months and, with a 90% probability hold a price between $254.04 and $320.38 at the end of this 3-month period.
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ANET Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 3.79%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Arista Networks Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $281.97. On a fall, the stock will find some support from the short-term average at $253.82. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Arista Networks Inc stock
Arista Networks Inc finds support from accumulated volume at $254.49 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $10.27 between high and low, or 4.10%. For the last week, the stock has had daily average volatility of 3.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ANET) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Arista Networks Inc to open at $255.41, and during the day (based on 14 day Average True Range), to move between $244.54 and $265.00, which gives a possible trading interval of +/-$10.23 (+/-4.02%) up or down from last closing price. If Arista Networks Inc takes out the full calculated possible swing range there will be an estimated 8.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $254.49 (0.11%) than the resistance at $265.51 (4.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Arista Networks Inc stock A Buy?
Arista Networks Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.896 Sell Candidate Unchanged
Predicted Opening Price for Arista Networks Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $255.41 ( 0.250%) | $254.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANET
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 265.68 | 4.28 % | |
| R2 | 261.75 | 2.74 % | ||
| R1 | 259.33 | 1.79 % | ||
| Current price: | 254.77 | |||
| Support | S1 | 251.48 | -1.29 % | |
| S2 | 249.06 | -2.24 % | ||
| S3 | 245.14 | -3.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 280.88 | 10.25 % | |
| R2 | 271.22 | 6.46 % | ||
| R1 | 265.51 | 4.22 % | ||
| Current price | 254.77 | |||
| Support | S1 | 254.49 | -0.110% | |
| S2 | 246.09 | -3.41% | ||
| S3 | 245.47 | -3.65% |
FAQ
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