Fortinet may rise to 91.00 - 96.00

Our pivot point is at 68.1.

Our preference

The upside prevails as long as 68.1 is support.

Alternative scenario

Below 68.1, expect 59.7 and 54.7.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 65.449 and 61.8284).

Supports and resistances

101 **

96 *

91 **

85.9

75.42 (USD-last)

71.4

68.1 **

59.7 *

54.7 **

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