Elliott Wave Technical Analysis: Fortinet Inc. - Tuesday, April 15

FTNT Elliott Wave Analysis
Daily Chart
Mode: Impulsive
Structure: Motive
Position: Wave 1 of (5)
Direction: Short-term top forming in wave 1
Details: Minor wave 1 is nearing completion, following a clear three-wave correction in Intermediate wave (4). A corrective wave 2 may follow before resuming the bullish trend in wave (5).

1H Chart
Mode: Impulsive
Structure: Motive
Position: Wave {v} of 1
Direction: Upside expected into wave {v}
Details: Price is consolidating in Minute wave {iv}. Holding above TradingLevel1 at $100 is critical to confirm a bullish continuation.

Technical Analyst: Alessio Barretta

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