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Tech

F5 Networks, Inc (FFIV) : Watch the lows. Going lower

 

FFIV is repeating its behavior highlighted in my post dated March 5

Again, we have the general index opening up as much as more than 1%, we see FFIV opening on the lows and going lower.

The low for the session is below $103 and breaks the low established back in Jan 25.

The probablility of FFIV going below $100 is getting higher.

Let’s take a look at the Ichimoku Weekly Chart to find out where we are.

 

On the Ichimoku Weekly Chart, we can clearly see that the price level has went below the Kijun sen (trendline).

The Chikou Span is about to pierce through the price level.

If Chikou Span pierce through the price level, we are looking at a next support of around $94 – $95