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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