Analyst Observations | Nasdaq Dorsey Wright

Comments include: ANET, AVGO, CBRE, & VIK.

ANET Arista Networks Inc ($187.54) - Telephone - Shares of ANET have pushed higher this summer, but action today broke a double bottom at $186 to move back to a sell signal. That said, ANET remains a solid 5 for 5'er after moving into a positive trend at the end of last minute. Despite the sell signal, investors could look to buy here but should monitor for signs of deterioration. Initial support lies at $158 in addition to the bullish support line also at $164.

AVGO Broadcom Ltd ($363.89) - Semiconductors - Shares of AVGO broke a double bottom at $372 to move back to a sell signal. Today's move also saw the stock flip back to a negative trend, moving down to hold territory as a 3 for 5'er. Those with positions can hold for now but should watch for further deterioration. Initial support lies closely below at $360.

CBRE CBRE Group, Inc. ($154.38) - Real Estate - CBRE pushed higher Wednesday to break a quadruple top at $154 before reaching $156 intraday. This 3 for 5'er moved to a positive trend in July and has been on an RS buy signal against the market since early 2019. The weight of the technical evidence is mixed but improving. Initial support can be seen at $144, which is also the current location of the bullish support line.

VIK Viking Holdings Ltd ($92.75) - Leisure - VIK broke a double bottom at $96 to return to a sell signal as shares fell to $93. The move violates the bullish support line, which will drop the stock down to a 3 for 5'er trading in a negative trend. Additionally, VIK now resides within one box of reversing down into Os on its market RS chart. From here, support on the trend chart can be found at $88.

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