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


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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
 
FTNT_12_8.png.a6fa7ea9dd0fccd22e6cd6d7f724791a.png
 
 

 
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).
FTNT_4H.png.3369f3ad0ca8294fc311638594f64a50.png
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