Fortinet may rise to 86.70 - 88.30

Our pivot point is at 77.4.

Our preference

The upside prevails as long as 77.4 is support.

Alternative scenario

The downside breakout of 77.4 would call for 74.7 and 73.1.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 78.9478 and 76.3874).

Supports and resistances

90.1 **

88.3 *

86.7 **

85.1

80.86 (USD-last)

78.5

77.4 **

74.7 *

73.1 **

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