Jun. 19 at 3:12 PM
$ANET a case for a breakout. Arista, like so many, hit its low in April and bounced on high vol. After it’s ER it’s been under accumulation and forming a month+ wedge under the resistance zone at round number 100 (just over the 200sma, not shown). On the diagonal rising trendline , support comes in with heavy vol. RSI is at 44, not overbought, in spite of the accumulation. Price is following the rising 50sma (not shown). My thesis is that it will , at least, break the wedge and enter the resistance zone in the near future. I’ve been building a position, taking small bites, with a mental stop under the 50sma. Next ER is end of July. Good luck.
