FTNT Elliott Wave Analysis Trading Lounge Daily Chart,

Fortinet Inc., (FTNT) Daily Chart

FTNT Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave 3

DIRECTION: Upside in wave 3.

DETAILS: Looking for a bottom in place in Minor wave 2 as we are moving higher in what should be minor wave 3 of (3), which should then provide us with a steep angle of ascent.

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FTNT Elliott Wave Analysis Trading Lounge 1H Chart,

Fortinet Inc., (FTNT) 1H Chart

FTNT Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave {i} of 3.

DIRECTION: Upside in wave (v) of {i}.

DETAILS: Looking for upside within wave (v) as we seem to be in a triangle in wave (iv).

(Click on image to enlarge)

In this Elliott Wave analysis, we will review the trend structure of Fortinet Inc. (FTNT) using both the daily and 1-hour charts to assess the current wave position and potential price movements.

* FTNT Elliott Wave Technical Analysis – Daily Chart*

On the daily chart, Fortinet Inc. is progressing through Wave 3 of an impulsive motive structure. After completing a corrective Minor Wave 2, the stock is showing signs of moving higher within Minor Wave 3 of (3). This phase typically corresponds with stronger price action and a steeper ascent, reflecting increased bullish momentum.

The resumption of the uptrend in Wave 3 should provide significant upside, and traders should be alert for confirmation as the stock moves higher, likely generating strong momentum with minimal retracements in this impulsive phase.

* FTNT Elliott Wave Technical Analysis – 1H Chart*

On the 1-hour chart, Fortinet appears to be progressing within Wave {i} of 3, and more specifically within Wave (v) of {i}. The wave structure suggests that the stock is currently forming a triangle in Wave (iv), indicating a consolidation before a final push higher in Wave (v) to complete Wave {i}.

This consolidation phase (triangle) typically signals that a breakout is imminent, and once Wave (v) completes, traders can anticipate a small corrective move before resuming higher in Wave 3.

Technical Analyst : Alessio Barretta

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