Fortinet may rise to 85.00 - 86.50

Our pivot point is at 76.1.

Our preference

As long as 76.1 is support look for 85.

Alternative scenario

The downside breakout of 76.1 would call for 73.6 and 72.1.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 76.8475 and 73.5691). Finally, Fortinet is trading above its upper Bollinger band (standing at 79.52).

Supports and resistances

88 **

86.5 *

85 **

83.4

80.33 (USD-last)

77

76.1 **

73.6 *

72.1 **

Number of asterisks represents the strength of support and resistance levels.