Fortinet Inc. - Elliott Wave Technical Analysis September 5 2022

Elliott Wave Analyst - tradinglounge • Sep 5, 2022 at 3:44 AM EDT

The Elliott Wave for Fortinet shows that we are in a long lasting correction which appears to be a triple combo. We are looking to further downside as we are approaching support.

Fortinet Inc., Elliott Wave Technical Analysis

Fortinet Inc., (FTNT): Daily Chart, September 5 2022,
FTNT Stock Market Analysis: We are in a long lasting correction which appears to be a triple combo. We are looking to further downside as we are approaching support.

FTNT Elliott Wave count: Z of (4).
FTNT Trading Strategy: Waiting for a clear move up to start looking for the resumption of the overall uptrend.

FTNT Technical Indicators: We are below all EMAs and all indicators are still suggesting the trend is bearish.

TradingLounge Analyst: Alessio Barretta

Fortinet Inc.: 4-hour Chart, September 5 2022

Fortinet Inc., Elliott Wave Technical Analysis
FTNT Stock Market Analysis: Looking for downside support to be reached. As we passed the 0.618 {a}vs{c} we are looking for equality at 43$ as next target.

FTNT Elliott Wave count: {c} of 4.
FTNT Technical Indicators: All indicators are bearish, the 20EMA could act as resistance for potential short trades.

FTNT Trading Strategy: Short term trading we could look for shorts as long as the downtrend remains intact.

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