Here’s a quick look at $ANET – March 19, 2024
This is Scott with StockMarketMentor.com and your Chart of the Day. A really quick one here from Arista Networks ( NYSE: ANET ).
ANET ( NYSE: ANET ) has been in a really nice uptrend. The last month or so it’s just been chopping sideways and allowing these moving averages to really hug price action. Today, with a lower market open, we did see a bit of a dip here. But I like the fact that even though this stock dipped down, it was able to recover and close, close to the highs.
Now, I like that upside momentum potential, and I think this stock could be actionable if it can get above and stay above this black line right over this previous day’s high at around 289.70. And so I think it makes sense to have an alert just above 289.70. Look for some follow-through momentum on Arista Networks ( NYSE: ANET ), through that level, coming on higher than average volume.
Now, today’s volume on the dip down was actually higher than average. That’s another indication that the buyers have stepped in to support this stock, and hopefully, there’s more fuel to the fire to bring this higher.
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