FTNT Elliott Wave Analysis – Trading Lounge Daily Chart

Fortinet Inc. (FTNT) – Elliott Wave Technical Outlook

Daily Chart Overview

FUNCTION: Trend

MODE: Motive

STRUCTURE: Impulsive

POSITION: Wave {i} of 3

DIRECTION: Upside in {i}

DETAILS: Multiple 1-2 wave formations are forming. Sustained trading above the $100 mark indicates bullish strength in Intermediate wave (5).

Fortinet Inc. (NASDAQ: FTNT) displays a strong Elliott Wave impulse structure on its daily chart. The current technical setup points to wave {i} within wave 3, as part of the broader Intermediate wave (5). Persistent price action above the key $100 support level signals ongoing buyer interest, laying the groundwork for further upside movement. Holding above this threshold would likely confirm the beginning of a larger bullish wave sequence.

FTNT-d-us-stock-char...


FTNT Elliott Wave Analysis – Trading Lounge 1-Hour Chart Overview

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave (iv) of {i}

DIRECTION: Upside in wave (v)

DETAILS: Wave (v) is anticipated to advance further, finalizing the five-wave sequence of Minute wave {i}.

On the 1-hour timeframe, Fortinet stock appears to be consolidating within wave (iv), a setup that typically precedes another move higher into wave (v). The expected completion of this impulsive wave structure would mark the end of Minute wave {i}. Intraday traders and short-term investors should monitor for key resistance levels as wave (v) progresses.

Technical Analyst: Alessio Barretta

Source: Visit Tradinglounge.com and learn from the Experts. Join TradingLounge Here 

Previous: Tesla Inc. (TSLA) Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

FTNT-1h-us-stock-cha...

Related

NEO/USD Elliott Wave Technical Analysis Predicts Wave 3 Breakout with Bullish Targets Above $5.75 and Support Set at $4.36

NEO/USD Elliott Wave Technical Analysis Predicts Wave 3 Breakout with Bullish Targets Above $5.75 and Support Set at $4.36

NEO/USD may have completed a major corrective phase. A bullish wave 3 could be underway with key lev...

Read More >
CAR GROUP LIMITED – CAR Elliott Wave Analysis Indicates Potential Bullish Wave (5) with Key Support at 31.73

CAR GROUP LIMITED – CAR Elliott Wave Analysis Indicates Potential Bullish Wave (5) with Key Support at 31.73

Elliott Wave analysis indicates that CAR GROUP LIMITED (ASX: CAR) has likely completed a corrective ...

Read More >
Euro/ U.S. Dollar (EURUSD) Elliott Wave Analysis: Daily Orange Wave 5 Impulse & 4‑Hour Gray Wave 2 Correction Signal

Euro/ U.S. Dollar (EURUSD) Elliott Wave Analysis: Daily Orange Wave 5 Impulse & 4‑Hour Gray Wave 2 Correction Signal

Daily chart shows bullish Orange Wave 5 within Navy Blue Wave 1. 4‑hour chart reflects short-term p...

Read More >
Euro/ U.S. Dollar (EURUSD) Forex Elliott Wave Technical Analysis:  Detailed insights into the current market trends

Euro/ U.S. Dollar (EURUSD) Forex Elliott Wave Technical Analysis: Detailed insights into the current market trends

This article provides a comprehensive Elliott Wave Analysis of the EURUSD pair, covering both day an...

Read More >
NZDUSD Forex Market: Expert New Zealand Dollar/ U.S. Dollar Elliott Wave Technical Analysis and Trading Strategies

NZDUSD Forex Market: Expert New Zealand Dollar/ U.S. Dollar Elliott Wave Technical Analysis and Trading Strategies

Get an in-depth analysis of NZDUSD using Elliott Wave theory. Our analysis covers the current trend,...

Read More >
Technical Outlook to Align Forex Trading Strategies with Market Trends: U.S. Dollar / Canadian Dollar Elliott Wave Analysis

Technical Outlook to Align Forex Trading Strategies with Market Trends: U.S. Dollar / Canadian Dollar Elliott Wave Analysis

This USDCAD Elliott Wave analysis provides a detailed forecast of current and upcoming market moveme...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on