Fortinet may rise to 86.10 - 90.80

Our pivot point stands at 63.5.

Our preference

The upside prevails as long as 63.5 is support.

Alternative scenario

Below 63.5, expect 55.6 and 50.9.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 60.553 and 60.0292).

Supports and resistances

95.6 **

90.8 *

86.1 **

81.2

71.5 (USD-last)

66.6

63.5 **

55.6 *

50.9 **

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