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Fortinet Inc.(FTNT:NASDAQ) Elliott Wave Technical Analysis October 27 2022


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Fortinet Inc., Elliott Wave Technical Analysis

Fortinet Inc., (FTNT:NASDAQ): Daily Chart, October 27 2022, 

FTNT Stock Market Analysis:There is apossibility wave (4) is completed and we are ready toresume higher. As we break previous wave {b} top, I would be expecting at least a three wavemove to the upside meaning I will be looking for a pullback of the current move up to then haveanother leg to the upside.

FTNT Elliott Wave count: Wave {i} of 1.

FTNT Technical Indicators:We are now touching the 200EMA.

FTNT Trading Strategy:Waiting for a pullback before considering longs.

TradingLounge Analyst: Alessio Barretta

 

FTNT_10_27.png.be8e064f2a69bf247ac68e44c80c4e2e.png

 

 

 

Fortinet Inc., FTNT: 4-hour Chart, October 27 2022

Fortinet Inc.,Elliott Wave Technical Analysis

FTNT Stock Market Analysis: We have volume point of control of the whole move down off thetop at around 59$ and the same at 51.5% of the most recent move up. Looking for a pullback inwave {ii} or {b} to then look for longs.

FTNT Elliott Wave count: Wave (v) of {i}.

FTNT Technical Indicators: Above all EMAs

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FTNT Trading Strategy:Looking to place longs on wave {ii} if it appears to be a three wavemove.

FTNT_4H.png.8a2bdad657de058634b5451c66c82c96.png

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