Arista Networks Inc

ANET continues to trade in a clear downtrend marked by sequential lower highs and lower lows below the descending 9EMA/20EMA. The medium-term bias is firmly bearish, warranting Sell Now into the short-term EMA resistance cluster. Short-term momentum remains negative with no oversold exhaustion, and failure to hold the 50 EMA opens the path toward the 200 SMA.

• ↑Q2 revenue hit $3.04B, ANET’s first quarter exceeding $3B.
• ↑Q2 EPS of $1.02 topped estimates, stock reached record $214.
• ↓Shares trade at a steep premium to historical forward P/E.