Monday, August 21, 2006

F5 Networks Inc. NASDAQ: (FFIV) - Double Bottom?

A reader asks if FFIV has made a double bottom? In the very short-term it has, however, a closer look at the longer time frame below (weekly), indicates that FFIV has reversed off of its neckline and that it may be in the midst of its last bounce before completing a H&S top.

So in the short-term, and after consolidating last weeek's big gains, it might retest the $57.00 area, however, it will likely find its way back down to the neckline shortly thereafter.

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