Arista Networks Inc

ANET is in a Stage 4 decline within its long-term uptrend. After a mid-July Bearish Exhaustion candle, the ensuing bounce was rejected at the 9/21 EMA resistance zone. The medium-term tradable side remains bearish, and short-term conditions favor selling now into the moving-average resistance. Execution should occur at the EMA resistance area via rejection-style interaction. A sustained move above the 21 EMA would invalidate the bearish medium-term bias.

• ↑Q1 revenue rose 35.1% YoY to $2.71B, topping guidance.
• ↑Diluted EPS $0.87 up 31.8% YoY; net income $1.11B.
• ↓Earnings yield and book-to-price ratios suggest stretched valuation.