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Arista Networks Set to Possibly Rebound After Yesterday's Selloff of 1.06%

Comtex SmarTrend(R) - Thu Sep 17, 12:19PM CDT

Arista Networks (NYSE:ANET) traded in a range yesterday that spanned from a low of $201.61 to a high of $204.64. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $203.68 on volume of 282,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Arista Networks on August 10th, 2020 by issuing a Downtrend alert when the shares were trading at $227.51. Since that call, shares of Arista Networks have fallen 9.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Arista Networks have traded between a low of $156.63 and a high of $267.30 and are now at $203.78, which is 30% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

Write to SmarTrend at cs@mysmartrend.com

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