FTNT Elliott Wave technical analysis
Function: Trend.
Mode: Motive.
Structure: Impulsive.
Position: Wave {i} of 3.
Direction: Upside in {i}.
Details: Several nested 1-2 setups are developing. Continued support above $100 suggests strength in Intermediate wave (5).
Fortinet Inc. (FTNT) shows a bullish structure on the daily chart. The pattern suggests that wave {i} of 3 is unfolding within Intermediate wave (5). Buyers continue to support the price above $100, reinforcing a strong foundation for upward momentum. If this support holds, we could see a significant impulsive move higher.
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave (iv) of {i}.
Direction: Upside in wave (v).
Details: Expecting wave (v) to extend higher and complete the Minute wave {i}, as the current structure lacks a final fifth wave.
On the 1-hour chart, FTNT is consolidating in wave (iv), preparing for a move into wave (v). This next upward step would complete the five-wave sequence of Minute wave {i}. Short-term traders should watch for resistance levels as wave (v) unfolds.
Technical analyst: Alessio Barretta.
FTNT Elliott Wave technical analysis [Video]
