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Arista Networks (New York Stock Exchange: Annette) was selected by our portfolio manager’s buy pattern software because it contains all of our technical and fundamental buy signals and has triggered the timing signal, Tmg, and buy on weakness. Naturally, we will check out Seeking Alpha Analysts and quantitative ratings to fully understand what drives our buy signals.
Traders will look to buy portfolio managers on weakness and will trade the price higher if expected demand emerges. Wallet Manager purchases can be hidden for a few days, but not for long. Traders look like sharks around a coral reef on a Pacific island. They can’t get in, but have to wait for the deal to pop up. Then cut, cut.
At the top of the weekly chart below, you will see our stocks Demand, or SID, buy signal. As you can see, the SID score is 87 out of 100. Anything above the green line is a buy signal. Last time, we saw a pullback from $307 to $240, as you can see on the chart. That was the bottom, and portfolio managers rushed to buy due to the weakness.
In fact, they were buying at the bottom, but the weekly chart was unable to detect early buying. Now ANET has the same profile with the price falling, unlike all the fundamental and technical buy signals that we have in our daily reports and charts that we publish to our subscribers. Like everyone else, our subscribers wait for buyers on weakness to start moving the price higher. We expect this to happen at the price support levels shown on the chart. We won’t guess when that will happen, but we’ll just wait for the signs to tell us. Our subscribers will also see these signals in our reports and charts. Our charts are live, and our reports are emailed daily before the open.
As you can see, we have drawn a red vertical sell signal line on the chart as the price declines. You can see this happened on the last pullback in price, then buyers pounce on the weakness and change the red line signal to a blue line buy signal and the price moves higher, creating a new high. There are many reasons to sell, and you don’t have to know why. However, there is only one reason to buy, and that is because the stock is an essential buy. There are buy signals that do not change despite the price decline. That’s why we still have our SID buy signal. It may drop to a hold signal because it fell below the green line last time.
Other buy demand signals can be easily seen on the weekly chart below. Chaikin Money Flow, CMF is still in the green zone. At the bottom of the chart, you can see the green line of ask above the red line of bid on the ADX signal.
If you look at the relative strength, ANET:$SPX, you can see an uptrend that identifies a stock as one that is outperforming the index, which is the most important signal for a mutual fund portfolio manager. You can see that it is pulling back to retest the uptrend, as it did in the last price pullback.
In addition to the sell signal on the red line, we also have a sell signal on the MACD signal on the chart below. This is a warning that this pullback could be as bad as the last pullback. Therefore, we will be updating this article, so keep an eye out for our announced buy signal which will appear in our daily reports in the confirmed buy signal column, Cfrm. Also, the red vertical line will change to a buy signal with the blue line. If you are in doubt about our timing buy signal, just message me and I will answer you.
Why do we add ANET to our model portfolio before a confirmed buy signal? We do what portfolio managers are supposed to do, which is buy on weakness before it bottoms out and the price starts to rise. Portfolio managers don’t chase the price once it starts rising. Only small traders and investors do this.
Below is our weekly chart for ANET which displays all the signals mentioned above. This live chart is available on the Stock Charts website.
ANET has a buy on weakness timing signal for portfolio managers (stockcharts.com)
