Fortinet Inc.FTNT Elliott Wave Technical Analysis September 5 2022

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Fortinet Inc., Elliott Wave Technical Analysis

Fortinet Inc.,(FTNT:NASDAQ): Daily Chart, September 5 2022, 
FTNTStock 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).
FTNTTrading Strategy:Waiting for a clear move up to start looking for the resumption of the overall uptrend.

FTNTTechnical Indicators:We are below all EMAs and all indicators are still suggesting the trend is bearish.

TradingLounge Analyst: Alessio Barretta

 

 

 

Fortinet Inc.,FTNT: 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.

FTNTElliott Wave count:  {c} of 4.
FTNT Technical Indicators:All indicators are bearish, the 20EMA could act as resistance for potential short trades.

FTNTTrading Strategy: Short term trading we could look for shorts as long as the downtrend remains intact.