F5 Networks (FFIV) formed a doji near the August low and then surged off this support level with two long white candlesticks. Volume was also above average both days. In the indicator window, the Accumulation Distribution Line bottomed in August and formed a higher low in early October. Money appears to be moving into FFIV.
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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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