After putting in a fairly dramatic blow-off top in January 2011, FFIV has been taken to the cleaners more than once. A hard sell-off on January 20 gave way to a classic dead-cat bounce that further send prices to new lows on March 22. See weekly chart.
On the daily chart we note a small bounce over the past 7 trading sessions or so and then today's 8% sell-off after near touching the 200 day moving average (red line) from below. Volume on today's sell-off is also implying further weakness. While I'm not a huge fan of shorting stocks that have had such a 'quick' drop, I do think FFIV sets up for a nice short here to a profit target somewhere between $86 – $89. My plan is to set this trade up on Monday as I'd like to use long puts and, call me crazy, don't want to give away time premium to others over the weekend.