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FTNT trade ideas

FTNT, not even spectacular earnings can save stocksGot burned on this last quarter so stayed out. Beat big on both top and bottom lines plus great guidance. Got hammered anyways today. It was actually sitting a pre-COVID level too. Trailing P/E now 36, forward P/E around 30.... Not touching this unless it hits $70 again, which would be ridiculous, but I've seen the market do dumber things. I think it just goes sideways again like last earnings. Another buy indicator is daily RSI hitting oversold twice.....
NASDAQ:FTNT
by hungry_hippo
1
FTNT: Cup & Handle formingToday I opened two positions after recognising the huge cup and the beginning of the handle. Still working on my trading strategy targeting this pattern. Safest bet is to enter when the SP breaks the upper cup line, in this case I decided to enter early because the support @128 did not break. Currently my SL is sitting at the 50% mark of the cup raise. If this breaks the pattern is invalidated. As soon as the price breaks and closes on the daily above the cup @133.26 I will adjust the SL to the upper third of the cup raise (where depends how it moves within the handle). The move from the bottom to the top of the cup measures in $ 20.63. So we can expect a similar move when it breaks out which makes a target @153.89 But I also take the trend based fib levels 1 (147.68) and 1.618 (160.6) into account. The second one might be a target in a follow up trade. Entry: 129.04 TP1: 147.68 TP2: 153.89 SL: 123.29 Not sure, but this might also lead to an inverse h&s.
NASDAQ:FTNTLong
by ape_mo
Rising Wedge Falling WedgeFTNT fell from a large rising wedge pattern. Did not meet cup and handle targets. In a falling wedge at this time. Falling wedges can be bullish at the bottom and signal reversal in trend. A stock must break from the falling wedge in a clear uptrend, but this is not exactly the bottom. There is a gap right under 89ish which would be the last line of support I am hoping it doesnt go that low...but it is an unfilled gap )o: There are several support areas before that..so maybe FTNT will land soon Not a recommendation
NASDAQ:FTNT
by lauralea
C&H Rectangle Rising wedgeNV is still high which is a good thing. V bottoms and cup and handle patterns follow virtually the same rules, except a true V bttom does not have a handle. There is a V cup and handle which is nice. Handles are great for support. It is possible that the lower trendline of rectangle will become the handle low FTNT needs a lot of help to reach targets right now. I think this is a great stock and it will pop back. I guess it just has to pay it's dues like everyone else )o:
NASDAQ:FTNT
by lauralea
FTNT "Sell the News" - UpdateFTNT down 6% AH on earnings after beating on revenue, earnings, and guidance. Bookings are slightly short, but obviously this isn't the reaction I expected. I don't see institutions selling on good news, just short term traders that were playing earnings. Probably retests $125 support then goes for a gap fill. Then probably drifts sideways like last year. Holding my calls and adding if it hits my $125 mark. Going light since I expect the market to dip here soon. Probably done playing earnings, too unpredictable. Money losing companies go up because they beat lowball numbers, money making companies drop when they beat. I get sell the news on some pumptarded stocks, but we're gonna gap down below last quarter's earning day tomorrow.... after beating. First time this is gonna gap down after beating. Seriously disappointed.
NASDAQ:FTNT
by hungry_hippo
11
RectangleExpected earnings 8-6 I was looking over my stocks and charts, and I saw this )o: Does not mean it is gonna crash, It can go either way. I just do not like the "Stuck in the Middle With You" song Rectangle Boundaries are 126.8 and 146.6 If it breaks up..under mid channel is stop which is 136.75ish FTNT has fallen out of it's rising wedge a few weeks ago. I am not sure if descent is complete. I do not like that GAP either. But I do own this one. When I entered the rectangle had not formed. Patterns change! Could be a good swing trade if you catch her at the bottom and being sure breakdown levels are not hit. Ftnt is about at mid channel now Doji on monthly Hammer on weekly Finally getting over punishing myself for losing money sometimes. Sometimes patterns morph. I think that is a good reason not to own too many. It becomes harder to keep up with the ones you own. I am ashamed when I buy more on a pull back then realize the technicals are just not there to support my decision. This stock changed patterns on me and I did not catch it. But she could break out..placing a stop on this one though
NASDAQ:FTNTLong
by lauralea