By
Peter Mathers
of
Trading Lounge
Monday, September 12, 2022 4:22 AM EST
Fortinet Inc., Elliott Wave Technical Analysis
![](https://talkmarkets.com/contributor/david-marshall/user_content/ckimages/orig_capture_637985675516215619.webp)
Fortinet Inc., (FTNT): Daily Chart, September 12 2022,
FTNT Stock Market Analysis:The overall correction into wave (4) seems to be completed. I am looking for further confirmation: Ideally, we would break the green line to exclude the possibility of a five wave move to the downside.
FTNT Elliott Wave count: {iii} of 1.
FTNT Trading Strategy: Looking for wave 2 to place longs.
FTNT Technical Indicators:The 200EMA could act as resistance if we move higher as expected.
TradingLounge Analyst: Alessio Barretta
![](https://talkmarkets.com/contributor/tradinglounge/user_content/ckimages/orig_ftnt_9_12.webp)
Fortinet Inc., FTNT: 4-hour Chart, September 12 2022
Fortinet Inc., Elliott Wave Technical Analysis
FTNT Stock Market Analysis: Next upside target is the break of wave (ii) of {c}. After that we can see how the point of control is slightly below 60$.
FTNT Elliott Wave count: {iii} of 1.
FTNT Technical Indicators: RSI is getting close to overbought territory which could indicate e are preparing for an incoming wave {v}.
FTNT Trading Strategy: Looking for small intraday pullbacks which should stay supported.
![](https://talkmarkets.com/contributor/tradinglounge/user_content/ckimages/orig_ftnt_4h_637985640019056474.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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