FTNT, SELL, 22.73% PROFITShorted NASDAQ:FTNT on 11/2/2023 at market close and closed the position on 11/3/2023 at market open. Net 22.73% profit.
FTNT trade ideas
FTNT created another massive gapFTNT just got annihilated on earnings, the stock is simply overvalued and does not see enough earnings. I am playing this spot only, options are pretty tough to trade on this heavily manipulated stock. This reminds me of the RTX manipulation congress and friends handled into the war.
FTNT update attempting to break divergence notedWith RSI rising and price falling we have clear bullish divergence. FTNT is taking another attempt at the medium term resistance of the teal line. The candles are also flirting with the 20SMA which is needed to confirm a bullish posture. This narrowing volatility should oscillate back to a wide pattern if RSI continues. My call setups are for 65$ ish. 59$ is first profit take.
FTNT time is now to long or sit on hands FTNT GAP trade is in effect for me, I swung this last upswing past the green line. With tech rallying and security/defense/cybersecurity trending with war situation FTNT should get caught up in the hype. The wedge is concluding and RSI has been trending downward. For a call setup Dec 15th or Jan 65$ is my pick.
FTNT flirting with supports for GAP trades Again, the upside is many multiples of the downside. These GAPs are huge, and the stock is attempting to take short-term support. A small bullish divergence is noted as well.
Up on FTNT?
As you see here on this 15-minute chart, we are approaching a major trendline. On the daily chart we are about to cross up, the RSI is slowly increasing and is currently approaching the 50 level. As you can see on the last bar of the 15-minute candle, we had a major push in volume. If we gap above the trendline on Monday, I would look for us to retest this level on the 5-minute heikin ashi candlestick chart and wait for a bounce and possibly hold until close.
Head and shoulders forming on FTNTThankfully I sold my calls on this when they were up a few hundred %, didnt get to hit price targets as tech stocks corrected. Head and shoulders forming nonetheless.
FTNT check-in on call setup, exit pricesMy colleague pointed this one out fundamentally right after the irrational sell-off. I entered an October call setup at a favorable level and have watched the slow uptrend. Exit prices marked in green for first sell and the horizontal blue above.
Fortinet FTNT Overreaction - What now?Slightly after earnings Fortinet Gapped down. Which are my favorite kind of stocks to trade because 9 times out of 10 Gaps close.
Fortinet had many analyst reiterate Bullish price targets some up to $70. I'm looking for a retest at $60.
Forecasting out to nov 2nd. The next earnings should be interesting.
Williams, MACD, & RSI are all showing Oversold in this situation. This could be a solid entry for someone to start a small position.
This is not financial advice.
Trade Responsible,
#TradeTheWave 🏄🏽♂️🌊
FTNT to 74FTNT (Fortinet, Inc.) has been performing well since November 2022, with a breakout in February 2023. Currently, it’s retesting the breakout level, which aligns with an upward trend line from November. There’s also a support area at 54.57 due to a daily gap . If FTNT holds its current level, it could target 74, in line with a gap above.
FTNT finding strong support after irrational selloffFTNT was pointed out by MoC as the top cybersecurity play in the market. This stock has sold off at irrational levels even after strong earnings. Looking for call setups into Oct-Jan.
Fortinet Inc (NASDAQ:FTNT)Fortinet, Inc. provides cybersecurity solutions to a variety of businesses,
such as enterprises, communication service providers and small businesses.
The stock has enjoyed a steady rise in price since February and is currently
up +46.43% year to date.
The recent boost in buying volume and relative strength suggests the move
may not yet be over.
This content is provided for general information purposes only and is not to be taken as investment advice nor as a recommendation for any security, investment strategy or investment account.
FTNT - Rising Trend Channel [MID TERM]🔹FTNT is in a rising trend channel in the medium long term.
🔹FTNT surges after double bottom formation break through resistance at 57.16.
🔹supports at 69.50 for negative reaction.
🔹Overall assessed as technically positive for the medium long term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
ftnt for the futureforget when this was charted but looks like its headed twords the upside! pushing for new ath? potential
FTNT - Breakout Rising Trend Channel- FTNT has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate.
- FTNT has met the objective at 66.36 after a break of the double bottom formation.
- FTNT has support at 62.70 and resistance at 69.40.
- Overall assessed as technically positive for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
*Chart Pattern:
DT - Double Top | BEARISH | RED
DB - Double Bottom | BULLISH | GREEN
HNS - Head & Shoulder | BEARISH | RED
REC - Rectangle | BLUE
iHNS - inverse head & Shoulder | BULLISH | GREEN
Verify it first and believe later.
WavePoint ❤️
FORTINET Stock Chart Fibonacci Analysis 050423Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 62/61.80%
FTNT - Entry, Volume, Target, StopEnter when price clears 69.07
With daily volume greater than 4M
Target: 75.50 area
Depending on your risk tolerance: 66.93 gets you 3/1 Risk/Reward
FTNT - Breakout Ceiling Falling Trend- FTNT has broken through the ceiling of a falling trend channel in the medium long term.
- The stock has met the objective at 57 after a break of the double bottom formation.
- The price has now fallen, but the formation indicates further rise.
- The stock has support at 63 and resistance at 71.
- The RSI curve shows a rising trend, which could be an early signal of the start of a rising trend for the price as well.
- Overall assessed as technically positive for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
Verify it first and believe later.
WavePoint ❤️
Buy FORTINET - high momentumStrong momentum on cybersecurity
CAGR 20% over the next 3 years on the top line
CAGR 25% over the next 3 years for the bottom line
Long FTNTFortinet's GAAP profit margins are higher than peers.
Margins remain in line with the prior year.
Fortinet reported a good quarter that saw revenue grow 29% and operating margin around 25%.
FTNT // cup handle formationAlthough there is a cup-handle formation in the graphic, the targets are determined according to Fibonacci. Let's look for at least two closures above 53.90.
short FTNTunder most MAs testing 50
big high vol reversal 6 days ago, followed by a mild bounce and faded.
bad earning drop with no reason bounce with market.
RISK:
CRWD earning today, risky
