Fortinet - Flag on 10smaSoftware companies have really enjoyed the rally year-to-date.
Fortinet shocked the market with a triple play in earnings, which resulted in a jump to start the "All-time-high Run"
TWLO, SHOP, OKTA, TTD are some examples of stocks with very similar moves, indicating oversold territory in the RSI can stay oversold for longer than you might expect. Also, the 10-day-moving average has been very indicative in these charts.
As long as we continue to hold the 10sma, the trend remains bullish.
10ma
AMD - A Breakout of a BreakoutAMD is breaking out of a small symmetrical triangle pattern on the daily chart. This follows after having broken out of a slightly ascending channel back on November 4th. The stock price is still surfing that 10-day EMA line as well. The EMA line is similar to where the top band of a Keltner Channel can be found confirming the strength of this bullish move.
The stock is in an overbought condition both on a Weekly & Daily chart so entering at this time may require a tight stop but I am still aiming for that $40.20 level. A dynamic P&F chart provides a potential target of $41.73 for people who like to take a look at P&F targets.