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:

Technical Scans

Stock Market

Loading
Chart
o Dow Jones 17,751.39 ▲121.12 (0.69%)
o S&P 500 2,108.57 ▲15.32 (0.73%)
o NASDAQ 5,111.73 ▲22.53 (0.44%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,751.39 Trade time:4:29PM EDT Value change:▲121.12 (0.69%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,108.57 Trade time:4:29PM EDT Value change:▲15.32 (0.73%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:5,111.73 Trade time:5:15PM EDT Value change:▲22.53 (0.44%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.