FTNT keeps outperforming despite momentum weakness
Context Technical Analysis
FTNT – Fortinel Inc. – started November with a huge gap and a series of bullish candlesticks along the upper Bollinger Band.
It’s still moving well above its 10-day exponential moving average, which in turn moves above the diverging 20- and 50-day exponential moving averages, an indication of a strong bullish trend.
Since early-November, MACD is in positive territory and moving above its signal line.
The stock’s Relative Strength has been moving up and above its 20-day exponential moving average since late October.
52, the fourth strongest Sector
Higher Time Frame
The stock’s weekly chart shows that:
FTNT moves on its rising upper Bollinger Band.
The MACD is above its signal line
The stock’s Relative Strength is moving up and above its 20-day exponential moving average
Buy above 105.5
Suggested Stop Loss
Sell at 102.5