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Tech

F5 Networks, Inc (FFIV): Watch the kumo resistance

 

F5 has hit the kumo resistance since its last gap up.

Despite the gap up movement, F5 (FFIV) continues to remains in the bearish territory as it fails to break above the kumo resistance and establish a clear bullish trend.

Watch out if FFIV breaks below the support from Kijun sen at around 101.72

Categories
Tech

F5 Networks, Inc (FFIV) : Bearish engulfment

 

F5 Networks (FFIV) has a bearish engulfment last Friday; a huge bearish candlestick was formed and was sold down from $100 region to $94-$95.

On the Ichimoku Daily chart, FFIV remains firmly in the bear territory.

Though, we can see from the following Ichimoku Weekly Chart, that FFIV is sitting on the Weekly kumo support.

 

My bet is that FFIV will try to rally to $100 given that the earnings is on April 20.

So, between now till then, it is unlikely to drop much unless news of their earnings are known beforehand.

Having said that, what is the chances that FFIV will be able to catch up and build a huge pipeline since its drastic drop in mid March.

I will look for a SHORT May $95 – $100 CALL spread position.

Categories
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