21Nov
Fortinet Inc., FTNT: Elliott Wave Technical Analysis Monday 21 November 2022
Fortinet Inc., FTNT: Elliott Wave Technical Analysis Monday 21 November 2022
4 Hour
Fortinet Inc., FTNT: 4-hour Chart, November 21 2022
Fortinet Inc., Elliott Wave Technical Analysis
FTNT Stock Market Analysis: We are looking at a three wave down off wave {i} so far as we could retrace deeper.
FTNT Elliott Wave count: Wave (c) of {ii}.
FTNT Technical Indicators: It dropped below all averages and reacted off the 38.2% retracement.
FTNT Trading Strategy: Looking for a resumption of the uptrend in wave (i) of {iii} to then start looking for longs.
Daily
Fortinet Inc., Elliott Wave Technical Analysis
Fortinet Inc.,, (FTNT:NASDAQ): Daily Chart, November 21 2022,
FTNT Stock Market Analysis: We have had a sharp move up off the lows which could represent the end of the correction in wave (4). At this point we’ll be looking for further downside.
FTNT Elliott Wave Count: Wave {i} of 1.
FTNT Technical Indicators: 200EMA acting as resistance, we are also facing resistance as we stand near the highest volume of the entire correction.
FTNT Trading Strategy: Looking for confirmation with a break of the bearish structure.
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