Fortinet Inc. Elliott Wave Technical Analysis 4 March 24

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FTNT Elliott Wave Analysis Trading Lounge Daily Chart, 4 March 24

Fortinet Inc., (FTNT) Daily Chart

FTNT Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulse

STRUCTURE: Motive

POSITION: Minor wave 1 of Intermediate (1).

DIRECTION: Completion of wave {v} of 1.  

DETAILS: We seem to have completed a flat correction in Primary wave 4, and now we see to be on the way to break previous wave (X) high at around TL8 80$. We could either be in wave {v} of 1 or else wave {iv} could be higher degree wave 2.

Technical Analyst : Alessio Barretta

 

 

 

 

 

FTNT Elliott Wave Analysis Trading Lounge 4Hr Chart, 4 March 24

Fortinet Inc., (FTNT) 4Hr Chart

FTNT Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulse

STRUCTURE: Motive  

POSITION: Wave (iii) of {v}.  

DIRECTION: Acceleration higher into wave (iii).

DETAILS: Looking for acceleration higher into wave (iii) as we seem to be breaking previous s wave (b) top after finding support on Medium Level 65$.

Welcome to our FTNT Elliott Wave Analysis Trading Lounge, your go-to resource for comprehensive insights into Fortinet Inc. (FTNT) using Elliott Wave Technical Analysis. Let's delve into the market dynamics as of the Daily Chart on 4th March 2024.

 

 

 

 

* FTNT Elliott Wave Technical Analysis – Daily Chart*

Our analysis reveals a trend function with an impulse structure, characterized by a motive pattern. Currently positioned in Minor wave 1 of Intermediate (1), we observe the potential completion of wave {v} of 1. Following a flat correction in Primary wave 4, we anticipate a breakout above the previous wave (X) high, approximately around TL8 $80. The ongoing wave could either be wave {v} of 1 or a higher-degree wave 2 represented by wave {iv}.

* FTNT Elliott Wave Technical Analysis – 4Hr Chart*

Here, we identify a trend mode with an impulse structure, indicating a motive pattern. Positioned in Wave (iii) of {v}, we anticipate an acceleration higher into wave (iii). This expectation comes as we observe a breakthrough above the previous wave (b) top, following support found at the Medium Level of $65.