Fortinet Inc.(FTNT:NASDAQ) Elliott Wave Technical Analysis September 12 2022

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Fortinet Inc., Elliott Wave Technical Analysis

Fortinet Inc.,(FTNT:NASDAQ): Daily Chart, September 12 2022, 
FTNTStock 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.
FTNTTrading Strategy:Looking for wave 2 to place longs.

FTNTTechnical Indicators:The 200EMA could act as resistance if we move higher as expected.

TradingLounge Analyst: Alessio Barretta

 

 

 

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$.

FTNTElliott 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}.

FTNTTrading Strategy: Looking for small intraday pullbacks which should stay supported.