Elliott Wave Technical Analysis: Fortinet Inc.
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Fortinet Inc., Elliott Wave Technical Analysis
Fortinet Inc., (Nasdaq: FTNT): Daily Chart, October 27, 2022,
FTNT Stock Market Analysis: There is a possibility that wave (4) is completed and we are ready to resume higher. As we break the previous wave {b} top, I would be expecting at least a three-wave move to the upside meaning I will be looking for a pullback of the current move up to then have another leg to the upside.
FTNT Elliott Wave count: Wave {i} of 1.
FTNT Technical Indicators: We are now touching the 200EMA.
FTNT Trading Strategy: Waiting for a pullback before considering longs.
Analyst: Alessio Barretta
Fortinet Inc., FTNT: 4-hour Chart, October 27, 2022
Fortinet Inc., Elliott Wave Technical Analysis
FTNT Stock Market Analysis: We have volume point of control of the whole move down off the top at around 59$ and the same at 51.5% of the most recent move up. Looking for a pullback in wave {ii} or {b} to then look for longs.
FTNT Elliott Wave count: Wave (v) of {i}.
FTNT Technical Indicators: Above all EMAs 2 / 2
FTNT Trading Strategy: Looking to place longs on wave {ii} if it appears to be a three-wave move.
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