Fortinet may rise to 66.60 - 68.90

Our pivot point is at 56.1.

Our preference

Short term rebound towards 66.6.

Alternative scenario

The downside breakout of 56.1 would call for 52.5 and 50.3.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 60.1005 and 63.0476).

Supports and resistances

71.1 **

68.9 *

66.6 **

64.4

59.72 (USD-last)

57.6

56.1 **

52.5 *

50.3 **

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