F5 Networks Stock Forecast
Weaker technical forecast for F5 Networks as stock downgraded to Sell Candidate.
(Updated on May 02, 2024)
The F5 Networks stock price fell by -0.330% on the last day (Thursday, 2nd May 2024) from $166.62 to $166.07. During the last trading day the stock fluctuated 2.72% from a day low at $163.12 to a day high of $167.55. The price has risen in 6 of the last 10 days but is still down by -7.53% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -273 thousand shares and in total, 773 thousand shares were bought and sold for approximately $128.36 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $165.10 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.21% during the next 3 months and, with a 90% probability hold a price between $159.80 and $188.04 at the end of this 3-month period.
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FFIV Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 0.460%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The F5 Networks stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $175.18 and $185.21. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for F5 Networks stock
F5 Networks finds support from accumulated volume at $165.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.43 between high and low, or 2.72%. For the last week, the stock has had daily average volatility of 3.39%.
F5 Networks is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FFIV) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect F5 Networks to open at $165.58, and during the day (based on 14 day Average True Range), to move between $161.36 and $170.78, which gives a possible trading interval of +/-$4.71 (+/-2.84%) up or down from last closing price. If F5 Networks takes out the full calculated possible swing range there will be an estimated 5.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $166.62 (0.33%) than the support at $165.31 (0.46%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is F5 Networks stock A Buy?
F5 Networks holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.252 Sell Candidate Downgraded
Predicted Opening Price for F5 Networks of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $165.58 ( 0.295%) | $166.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FFIV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 170.01 | 2.37 % | |
| R2 | 168.32 | 1.35 % | ||
| R1 | 167.27 | 0.724 % | ||
| Current price: | 166.07 | |||
| Support | S1 | 163.89 | -1.31 % | |
| S2 | 162.84 | -1.94 % | ||
| S3 | 161.15 | -2.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 182.35 | 9.80 % | |
| R2 | 182.13 | 9.67 % | ||
| R1 | 166.62 | 0.331 % | ||
| Current price | 166.07 | |||
| Support | S1 | 165.31 | -0.458% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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