F5 Networks (FFIV) surged to resistance in early August and then pulled back the last two days. Notice how the stock hit resistance in the 104 area twice in July and now once in August. The Stochastic Oscillator became overbought with a move above 80 and turned down with a move back below 80.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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