FORTINET #FTNTThe cybersecurity stock, #FORTINET gained an average of 6.1% in April the past five years. After descent move since 20th March, now it is correcting. #RSI is weak, seems double top is formed. Watch for supports and resistances
F1TN34 trade ideas
Trade Journal: Long FTNT - 1/27/2020Market indexes pulled back today with a gap down and a closer lower. A lot of strong, trending names have been pulling back into the 20MA and I wanted to go long a stock with the best looking setup. FTNT has been on a powerful uptrend for the three months since breaking out in November 2019. FTNT tests and holds the 20MA three times within this recent trend. Today FTNT gapped down and made a nice high volume hammer though the 20MA and closed above it. This is called the Holy Grail trade. One of the key factors in the Holy Grail trade is to find trending stocks with strong fundamentals. FTNT has a solid fundamental rating on IBD and has strong earning/sales growth making FTNT a high growth stock.
Entry - 114.45
Stop Loss - 111.60
Target 1 - 120
Target 2 - 125
I will continue to hold FTNT until the stock closes below the 20MA on the daily chart.
Note - Despite many quality names having the same setup today, I only took a nibble at one encase the markets choose to continue the downside momentum. Market movement will affect this trade. I do believe we are currently at short term oversold conditions and the prospects of a bounce are strong technically.
$FTNT:NASDAQ - FORTINET INC - Cybersecurity will be hot in 2020I've been looking for some Cybersecurity stocks for my portfolios and think that Fortinet might be worth a look. The wars of the future will increasingly be economic and with things like AI and Quantum Computing its going to be really interesting to see how defensive technologies evolve to try and combat them. Fortinet seems to have had some good price momentum lately up 66% over the last 12 months so will look for a possible entry - especially with the increased awareness the US / Iran dispute is bringing to the digital warfare space.
Fortinet, Inc. provides cybersecurity solutions to variety of business, such as enterprises, communication service providers and small businesses. It operates through the following segments Network Security, Fortinet Security Fabric, Cloud Security and Internet of Things and Operational Technology. The Network Security segment include majority of product sales from it FortiGate network security appliances. The Fortniet Security Fabric segment provide platform which is an architectural approach that protects the entire digital attack surface, including network core, endpoints, applications, data centers and private and public cloud. Together with it network of Fabric-Ready Partners, the Fortinet Security Fabric platform enables disparate security devices to work together as an integrated, automated and collaborative solution. The Cloud Security segment provides help to the customers connect securely to and across their cloud environments by offering security through it virtual firewall and other software products in public and private cloud environments. The Internet of Things and Operational Technology segment include the proliferation of Internet of Things ("IoT") and an Operational Technology ("OT") device has generated new opportunities for it to grow it business. IoT and OT have created an environment where data move freely between devices across locations, network environments, remote offices, mobile workers and public cloud environments, making the data difficult to consistently track and secure. The company was founded by Ken Xie and Michael Xie in October 2000 and is headquartered in Sunnyvale, CA.
Fortinet: Cup with Handle Breakout from April's Last ATHI've been watching FTNT for a while but have hesitated to purchase into it over the Summer while the broader market consolidated. Not that the indexes have resumed the rally, I bought into FTNT the other day (and thought I publisehd an idea about it then!), so I need to publish one before it runs too far beyond a good long term buy point.
All moving averages and trend direction with accumulation. Volume is soaring, and even though the RSI is high and show short term overbought, the double top breakout from the last ATH in April tells me it's going to keep going. As with all ideas, confirm this with your own research.
FTNT long Two stocks hit scanners - ABBV and FTNT. FTNT met all buy criteria, although ABBV is attempting a reversal right now!!
$FTNT Fortinet Beats and Raises. Earnings Highligts
Fortinet (NASDAQ:FTNT) +9.7% beats Q3 estimates with 21% Y/Y revenue growth. The in-line Q4 outlook sees $595-610M in revenue and $0.69-0.71 EPS.
Q4 billings expected from $750-765M, gross margin from 75.5-76.5% and operating margin from 25.5-26%.
For the FY, Fortinet lifts its billings guidance from $2.51-2.54B to $2.55-2.57B. Service revenue raises from $1.34-1.36B to $1.36-1.37B, and adjusted gross margin from 75.5-76.5% to 76.5-77%.
Q3 service revenue totaled $350.4M and product revenue was $197.1M. Billings grew 19% Y/Y to $626.6M.
Source Seeking Alpha
P/E ratio 38
Average analysts price target $96 | Overweight.
Company profile
Fortinet, Inc. provides cybersecurity solutions to variety of business, such as enterprises, communication service providers and small businesses. It operates through the following segments Network Security, Fortinet Security Fabric, Cloud Security and Internet of Things and Operational Technology. The Network Security segment include majority of product sales from it FortiGate network security appliances. The Fortniet Security Fabric segment provide platform which is an architectural approach that protects the entire digital attack surface, including network core, endpoints, applications, data centers and private and public cloud. Together with it network of Fabric-Ready Partners, the Fortinet Security Fabric platform enables disparate security devices to work together as an integrated, automated and collaborative solution. The Cloud Security segment provides help to the customers connect securely to and across their cloud environments by offering security through it virtual firewall and other software products in public and private cloud environments. The Internet of Things and Operational Technology segment include the proliferation of Internet of Things ("IoT") and an Operational Technology ("OT") device has generated new opportunities for it to grow it business. IoT and OT have created an environment where data move freely between devices across locations, network environments, remote offices, mobile workers and public cloud environments, making the data difficult to consistently track and secure. The company was founded by Ken Xie and Michael Xie in October 2000 and is headquartered in Sunnyvale, CA.
FTNT! Here we go again!!! I am so shorting you again!!!Hello Traders :)
Previously we managed to get an amazing short and we believe the TREND of FTNT NASDAQ:FTNT is still going-down we wrote two ideas and this is our third idea about the company!!! Below is the history...
In our first idea and position, I managed a short from 92$ and reached a 68$ achieving 35% gain.. (please check the idea below)
However, due to the fact that we believe the general trend is going down, we decided to keep our position. I identified a new loss stop at 81$ in which the price reached and we exited. (please check the idea below)
I come back again today and I say there is a possibility of continuing the down-trend. . and we will be making a new entry as below
Happy Hola Freaking Trading Everyone ;)
FTNT - We are still holding our short position :) Hello Traders,
If you refer back to my previous analysis about NASDAQ:FTNT , then we are having a strong position from 92 USD and we are still holding our position. As explained in the chart, we will only close our position and go long if the price higher than 79 USD. We wait and watch :)
Happy Trading :)
FTNT - Time to Sell - Double TopIf you didn't sell in April, i would sell now and wait until the earnings report gets released in October. Swing traders may benefit from the small spikes its is going to have on the way down.
FTNT weekly shows nice cup and handle.Working on the handle. We went long on FTNT last week. Earnings pulled it down, but pattern is working beautifully. Break out around 94
Possible entry point right hereSeems to be finding support at 100 Day MA. HOLY GRAIL setup in this one.
Strong pull back on an clear earnings beatThis may be the start of a handle as the formation of the cup was not enough to sort out these shares.
Solid fundamentals with 18% sales growth an a modest increase of full year guidance .
Fortinet - Full Wave up! short short shortHi Traders :)
I am placing a short position NASDAQ:FTNT for the following ;
1- A bullish Bar (2D timeframe)
2- Momentum divergence between W3 & W5
3- I can count 5 waves
Loss stop is 97$
Best of luck :)))
$FTNT Fortinet moves higher on breakout, nice RR.This is a stock which we really missed out on, it is a cloud and fixed cyber security specialist which is at the epicenter of growth and spending. The stock has created a lovely base and is now breaking out with a minimum 10% upside in our opinion, we are long as of today and will hold for long term upside with $93 as our stop loss level.
Fortinet: Cybersecurity Software Rallying AgainI have been looking for another tech stock outside of the semiconductor space, and I believe I've found it with Fortinet. They had a solid earnings surprise at the end of February and after a choppy, volatile couple of months, they appear to be rallying again with the recent market tailwinds. The price is hitting the top Bollinger Band, MACD just crossed in the last few days, ADX is rising into trendedness with DI+ diverging upward strongly from DI-. RSI isn't yet overbought, so the timing is opportune for speculation.
Fortinet $FTNT explosive set-up, long flag, larger cup & handleFortinet $FTNT explosive set-up, long flag, larger cup & handle
Long FTNT for continuation higherFortinet has been moving impulsively higher in a five-wave sequence since 2016. Looking at the daily chart on the left, we can see what appears to be an extended Wave 3 that broke higher out of a parallel base channel. After topping out around $94 in October, FTNT pulled back and found support on the topside of the channel - a common support area for Wave 4 retracements.
Moving to a smaller time frame on the right, we can see an ongoing impulsive sequence in what is likely Wave 5 of larger degree Wave 3. We're using the current consolidation to establish long positions in the direction of the overall trend. Initial target is $94 with a continuation to new highs on a breakout.
