Fortinet: Cup with Handle Breakout from April's Last ATH
I've been watching FTNT for a while but have hesitated to purchase into it over the Summer while the broader market consolidated. Not that the indexes have resumed the rally, I bought into FTNT the other day (and thought I publisehd an idea about it then!), so I need to publish one before it runs too far beyond a good long term buy point.
All moving averages and trend direction with accumulation. Volume is soaring, and even though the RSI is high and show short term overbought, the double top breakout from the last ATH in April tells me it's going to keep going. As with all ideas, confirm this with your own research.
All moving averages and trend direction with accumulation. Volume is soaring, and even though the RSI is high and show short term overbought, the double top breakout from the last ATH in April tells me it's going to keep going. As with all ideas, confirm this with your own research.
Trade closed: target reached
I'm happy with what I made from FTNT, but the stock is starting to lag and consolidate some. I'm taking profits to minimize risk.
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