Bulls in Charge of F5 Networks

ffiv New York, November 29th (TradersHuddle.com) - Shares of F5 Networks, Inc. (NASDAQ:FFIV) ended the trading session higher by $0.54 or 0.59% from its previous close. F5 Networks' price action formed what is considered to be a bullish engulfing candle that could very well signal a continuation of trend or reversal of the ongoing weakness.

F5 Networks, Inc. (NASDAQ:FFIV) is the global leader in application delivery networking, it provides integrated Internet traffic management solutions designed to improve the availability and performance of mission-critical Internet-based servers and applications. Its software-based solutions manage, control and optimize Internet traffic and content.

F5 Networks' recent stock range was formed by a trough where calculated support was defined at $84.71 and by a peak that established the resistance level at $93.44. This range could be used by traders managing their positions.

Traders wanting to establish a position in F5 Networks or traders that are already holding the stock can use the bullish engulfing pattern to their advantage. The pattern provides a defined risk, as it shows where the bears were able to push the stock down, before the bulls step in with a bid.

The bullish engulfing pattern is a leading indicator that provides an alert to the bulls that the trend will continue or that there is an immediate reversal to the short-term weakness seen on the stock. Below an Engulfing Bullish Candle Illustration:

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 16,946.46 ▼137.34 (-0.80%)
o S&P 500 1,978.07 ▼9.91 (-0.50%)
o NASDAQ 4,448.94 ▼23.17 (-0.52%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:16,946.46 Trade time:2:16PM EDT Value change:▼137.34 (-0.80%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,978.07 Trade time:2:16PM EDT Value change:▼9.91 (-0.50%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,448.94 Trade time:2:16PM EDT Value change:▼23.17 (-0.52%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.