ANET Arista Networks was in the process of breaking out of a long term bullish pennant pattern just before it was announced they were adding it to the S&P 500...with that came a volatile couple weeks. The attention seems to have cooled off and we're finding support back at the lower trend line. Fundamentally, this company has consistently put together a solid string of earnings beats over the last two years plus. I'm expecting the stock to easily be back above $300 by next earnings report early November.
Target - $310 by Nov
Note: Informational analysis, not investment advice.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.