Fortinet may rise to 91.20 - 96.20

Our pivot point stands at 68.

Our preference

The upside prevails as long as 68 is support.

Alternative scenario

The downside breakout of 68 would call for 59.7 and 54.8.

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 69.0075 and 63.0084).

Supports and resistances

101.3 **

96.2 *

91.2 **

86.1

75.97 (USD-last)

71.3

68 **

59.7 *

54.8 **

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