Let's see how how group consensus works in technical analysis. As I look through the portfolio, F5 Networks (FFIV) provides a dilmena I often see. The stock has pulled back nicely after a huge gain to the 20 day moving average (just above). But it just created a potential double top.
[click to enlarge]
What would you do here? Buy? Or Wait?
Being Mr. Cautious of course I am in the Wait camp..........but of course the status quo is to buy every dip. Frantically.
If you want to take ownership of your vote above or post a specific reasoning, feel free to add a comment below. I'll check back in a week for now to see which commentator is correct, at which point you will be rewarded with a FMMF Technical Analyst of the Week award.
*no prizes involved*
*Residents of Hawaii, Alaska and that land mass between Minnesota and Alaska excluded*
Also for fun, check out this commerical for Chantix. I don't know what is worse - the damage from cigarettes, or the damage from taking Chantix. Holy side effects Batman.
Long F5 Networks in fund; no personal position