Elliott Wave Technical Analysis: Fortinet Inc. - Thursday, Oct. 12

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Fortinet Inc., Elliott Wave Technical Analysis

Fortinet Inc.,(Nasdaq: FTNT): 4H Chart, 12 October 2023

FTNT Stock Market Analysis: Looking for continuation lower into wave (C) as we seem to be in a higher degree wave 4. Looking to start resuming lower soon.  

FTNT Elliott Wave Count: Wave {i} of 3.  

FTNT Technical Indicators: Below all averages.  

FTNT Trading Strategy: Looking for continuation lower into wave 3 with invalidation at 65$.  

Analyst: Alessio Barretta

Fortinet Inc., FTNT: 1-hour Chart, 12 October 2023

Fortinet Inc.,  Elliott Wave Technical Analysis
FTNT Stock Market Analysis: Looking for another leg higher into wave {ii} to then complete the correction and resume lower. Looking for equality of (c) vs. (a) to then start looking for sellers to step in.  

FTNT Elliott Wave count:  Wave (c) of {ii}.  

FTNT Technical Indicators: Between averages.

FTNT Trading Strategy: Looking for shorts off wave (c) with invalidation at 65.5$.  ​​​​​

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