F5 Network (FFIV) reported earnings after the bell on Monday.
FFIV reported non-GAAP EPS of $2.18, which beat consensus estimates of $2.03.
F5 Network reported revenue of $583M, which also beat consensus estimates of $572M.
The company expects Q4 EPS to be $2.30 – $2.42 on revenue of $595M – $615M.
Consensus estimates were for Q4 EPS of $2.26 on revenue of $598.2M.
This morning, Credit Suisse and Needham raised their price targets on the stock. In spite of all this positive news, the stock is down almost 8% on the day.
Let’s review our weekly cycle analysis for F5 Networks stock (FFIV)
F5 Network (FFIV) Weekly Chart
![ffiv f5 networks stock price peak top caution investing chart analysis image july 28](https://www.seeitmarket.com/wp-content/uploads/2020/07/ffiv-f5-networks-stock-price-peak-top-caution-investing-chart-analysis-image-july-28-1024x496.jpg)
At askSlim we use technical analysis to evaluate price charts of stocks, futures, and ETF’s. We use a combination of cycle, trend and momentum chart studies, on multiple timeframes, to present a “sum of the evidence” directional outlook in time and price.
askSlim Technical Briefing:
The weekly cycle analysis suggests that the stock is entering a declining phase. The next intermediate-term low is due between mid-August and early October.
![ffiv f5 networks stock price indicators analysis bearish top peak image july 28](https://www.seeitmarket.com/wp-content/uploads/2020/07/ffiv-f5-networks-stock-price-indicators-bearish-top-peak-analysis-image-july-28.jpg)
On the upside, there is a major Fibonacci resistance at 153.90.
On the downside, there are intermediate-term Fibonacci supports from 127.11 – 109.03.
For the bears to gain control of the intermediate-term, we would need to see a close below 96.17.
askSlim Sum of the Evidence:
FFIV is likely entering a declining phase. Given the positive overall cycle configuration – we see a likelihood that the stock tests 127 by October before entering a more favorable period.
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