Jump to content

Fortinet Inc.(FTNT:NASDAQ) Elliott Wave Technical Analysis December 8 2022

Recommended Posts

Fortinet Inc., Elliott Wave Technical Analysis
Fortinet Inc.,  (FTNT:NASDAQ): Daily Chart, December 8 2022,  
FTNT Stock Market Analysis: We had a double correction compared to the previous forecast and what is most important is that the move down in potential wave {ii} remains a three wave move for the time being.  
FTNT Elliott Wave Count:  Wave {ii} of 3.
FTNT Technical Indicators: Below all EMAs with averages starting to cross.  
FTNT Trading Strategy: As the averages are starting to cross it could signify a bullish reversal is imminent, however we need further confirmation before calling this the low.  
TradingLounge Analyst: Alessio Barretta

Fortinet Inc., FTNT: 4-hour Chart, December 8 2022
Fortinet Inc., Elliott Wave Technical Analysis
FTNT Stock Market AnalysisWe can count three waves down into wave (a) and already five small waves into wave (c) which suggest the correction could be completed, as well as we reached 0.618 (c) vs. (a).
FTNT Elliott Wave count:  Wave (c) of {ii}.
FTNT Technical Indicators: Below all EMAs with averages starting to cross.  
FTNT Trading Strategy: Looking for longs into wave {iii} not before we at least break wave (b).
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...