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Recent Lows Define Support Above 50-Day Average
Tuesday, December 28, 2010   CANSLIM.net
 

F5 Networks Inc.'s (FFIV -$1.52 or -1.13% to $133.38) volume totals have been cooling while consolidating in a tight range, and it finished today's session only -7% off its all-time high. Its recent low ($129.59 on 12/16/10) defines initial chart support well above its 50-day moving average (DMA) line. Violations leading to technical damage may trigger technical sell signals prompting investors to lock in profits.  It is extended from any sound base and disciplined investors would avoid chasing it, while it still could go on to produce more climactic gains, or it might eventually form a new base we can identify. 

The number of top-rated funds owning its shares rose from 900 in Dec '09 to 957 as of Sept '10, a reassuring sign with respect to the I criteria. The company currently sports a very healthy Earnings Per Share (EPS) rating of 99 and a Relative Strength (RS) rating of 97. It resides in the Internet- Networking Solutions group which is an Industry Group showing lots of leadership, satisfying the "L" criteria. Its quarterly sales and earnings results showed impressive growth satisfying the C criteria. The company has maintained a good annual earnings (A criteria) history. This stock was first featured in the January 2004 edition of CANSLIM.net News (read here) with a $26.85 pivot point. During the past 6 years, FFIV has built several bases, and it has also been through some tough consolidation periods.  It has rallied up as much as +94% since returning to the Featured Stocks list when it was highlighted in yellow in the June 16th, 2010 mid-day report and its breakout above $74 was shown that evening (read here).

About : Kenneth J. Gruneisen - Passed the CAN SLIMĀ® Master's Exam
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.


Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities.
You can contact Kenneth J. Gruneisen - Passed the CAN SLIMĀ® Master's Exam at kengruneisen@gmail.com

 
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Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

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