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FORTINET INCFORTINET INCFORTINET INC

FORTINET INC

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FTNT trade ideas

$FTNT taking off from its launch pad!Notes: * Strong up trend on all time frames * Great earnings track record * Basing for the pas ~9 months * Moving higher from its launch pad with higher than average volume and another quarter of better than expected earnings * It's also breaking out of an ascending triangle Technicals: Sector: Technology - Software - Infrastructure Relative Strength vs. Sector: 5.72 Relative Strength vs. SP500: 54.15 U/D Ratio: 1.53 Base Depth: 51.61% Distance from breakout buy point: -15.43% Volume 24.53% above its 15 day avg. Trade Idea: * You can enter now as the price is moving higher from its launch pad with higher than average volume and on better than expected earnings * If you're looking for a better entry you may be able to get one around the 61.9 area * This stock usually has local tops when the price closes around 15.74% above its 50 EMA * Consider selling into strength if the price closes 15.54% to 15.94% (or higher) above its 50 EMA * The last closing price is 6.2% away from its 50 EMA
NASDAQ:FTNTLong
by HaseebKhan_90
RectanglePrice is still inside the rectangle top. The bottom trendline is support until broken. Sometimes candles can tell a story and FTNT has had it's fair share of ominous candles. Most do not use candles by themselves but confirm with other indicators. Dark Cloud Cover consists of a green candle that is followed by a red candle that towers and closes above the green candle. This was almost an engulfing candle that swallowed the green candle body but not quite. A red candle opens at the top and closes at the bottom of the candle body (excluding wicks and shadows) and vice versa for a green candle. So in the Dark Cloud Cover pattern, price opens above the green candle close and the bulls are unable to maintain the open and the red candle closes at least half way down, or more on in to prior green candle body. This shows weakness for the bulls and is often a bad sign for the bulls. I have found this candle pattern to be more reliable than most close to the top and often indicates at least a short term reversal. Price has been unable to penetrate the level of resistance the long candle wicks created. Long wicks can point to a resistance level and long shadows can point to support. Long candle wicks at the top get my attention if I am long. Several bad candles can tell you a lot about the psychology of the market concerning a particular security. No recommendation. It seems cybersecurity has held on longer than the rest of the tech sector. This pattern is neutral for now.
NASDAQ:FTNT
by lauralea
FTNT, Warning to buyers! Head and Shoulder is forming !Is FTNT's honeymoon is close to end? Lets follow! FTNT made a massive motive rally from 106.75 to 322 . In this profitable journey it never lost the up going trend line. This strong dynamic support is no more existing! Price broke the line strongly. Moreover, a head and shoulder pattern at very top of the chart is forming. My experience says that this is a pattern which is really worth to be considered especially after a huge motive rally. Therefore I can strongly recommend not to go long at the moment if you do not want to go short. Based on Elliot wave pattern, corrective wave 4 may have started and it may push down the price to 240, 215, 190 and even 154 USD corresponding to 0.382, 0.5, 0.618 and 0.786 retracement of the mentioned up going rally respectively. Currently I give more chance to 190 but we can update the target later based on structure of the possible down going corrective wave. A good entry point can be breaking the neckline ( if it ever happens) shown on the chart. If we decide to go short we set our protective buy stop at ATH or minor high after ATH depending on how much loss we can tolerate. We always trade based on fact and figures not hopes and wishes. Good luck every one !
NASDAQ:FTNTShort
by SaeedSajedi
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