Fortinet may rise to 65.10 - 66.60

Our pivot point is at 57.9.

Our preference

Short term rebound.

Alternative scenario

The downside breakout of 57.9 would call for 55.6 and 54.2.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the stock is trading above its 20 day moving average (59.466) but under its 50 day moving average (60.7208).

Supports and resistances

68 **

66.6 *

65.1 **

63.7

60.25 (USD-last)

58.9

57.9 **

55.6 *

54.2 **

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