By
Peter Mathers
of
Trading Lounge
Monday, September 5, 2022 3:44 AM EST
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
![](https://talkmarkets.com/contributor/tradinglounge/user_content/ckimages/orig_ftnt_9_4.webp)
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.
![](https://talkmarkets.com/contributor/tradinglounge/user_content/ckimages/orig_ftnt_4h.webp)
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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...
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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.
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