F5 Networks, Inc. (FFIV) , which engages in the "development and provision of software defined application services," was downgraded to "neutral" by two sell-side firms Thursday -- the definition of a bad fundamental day.
Let's check out the charts to see how far FFIV may fall.
In this daily bar chart of FFIV, below, we can see a bumpy decline from late December. Prices gapped lower in late January and again in late April. Prices made fresh new lows in May, June and also in July. FFIV trades below the declining 50-day moving average line and below the bearish 200-day line.
The On-Balance-Volume (OBV) line has been weak since November as traders of FFIV have been more aggressive sellers of the stock. The Moving Average Convergence Divergence (MACD) oscillator is below the zero line and crossing to the downside for a new sell signal.