The Chart of the Day belongs to Arista Networks (ANET). I found the cloud solutions stock by using Barchart to sort today’s All Time High list first for the highest Weighted Alpha, then again for technical buy signals of 80% or more. Since the Trend Spotter signaled a buy on 8/7 the stock gained 8.07%.
Arista Networks, Inc. is engaged in providing cloud networking solutions for data center and cloud computing environments. It offers ethernet switches, pass-through cards, transceivers, cards, and enhanced operating systems, host adapter solutions and networking services. The Company serves a range of industries, including Internet companies, service providers, financial services organizations, government agencies, and media and entertainment companies. Arista Networks, Inc. is headquartered in Santa Clara, California.
The status of Barchart’s Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart technical indicators:
- 100% technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 8 new highs and up 9.21% in the last month
- Relative Strength Index 71.89%
- Technical support level at 180.53
- Recently traded at 188.12 with a 50 day moving average of 176.19
- Market Cap $13.18 billion
- P/E 52.49
- Revenue expected to grow 40.90% this year and another 24.10% next year
- Earnings estimated to increase 41.20% this year, an additional 18.00% next year and continue to compound at an annual rate of 21.00% for the next 5 years
- Wall Street analysts issued 7 strong buy, 1 buy and 9 hold recommendations on the stock
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