Technical Breakout: F5 Networks, Inc.
Boston, May 31, 2001 (Midnight Trader via COMTEX) -- The shares of F5 Networks
(FFIV) have fallen more than 22% in the since hitting $14 last week. The stock,
however, has avoided falling below the important $10 support level, and what is
most important, it has not posted a downside breakout of the 50 or 100-day MA.
If the stock manages to stay above $10, shares could rebound and continue to
build an uptrend line. If $10 fails, however, the stock could fall to the $7
level where it has the next strong support, and a downside breakdown of the
50-day MA would become more likely. Stock is higher on 21,865 Island shares. |
