FTNT Elliott Wave Analysis – TradingLounge Daily & 1H Charts

Fortinet Inc. (FTNT) – Daily Chart Overview

Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave 1 of (5)
Direction: Upside in Wave 1
Details: Wave (4) appears to have completed within a triangle pattern. With price support above $100, the next move is likely upward continuation in Wave 1.

Fortinet Inc. is showing signs of entering a new bullish phase on the daily chart. Following the completion of Wave (4), which formed as a triangle, the market has found a technical base for Wave (5) to begin. With strong support holding above the $100 level, price action is aligned with the development of Wave 1 of (5), reinforcing the overall bullish outlook.

Fortinet Inc. (FTNT) – 1-Hour Chart Overview

Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {iii} of 1
Direction: Acceleration in Wave {iii}
Details: Wave {ii} appears complete. A minor pullback in Wave (ii) of {iii} may occur before continued upward movement.

The 1-hour chart supports the broader trend with a confirmed progression into Wave {iii} of 1. After concluding Wave {ii}, price action indicates a potential short-term correction within Wave (ii) of {iii}. Despite this, the dominant trend remains bullish, with upside acceleration likely as the impulsive sequence unfolds.

Technical Analyst: Alessio Barretta

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