Looks to me like a cup with handle pattern with a buy point of $38.27. I managed to buy in right at $38.27 when it moved with high volume. Keeping my stop at $36.73, I would love a 20% move to 46.25 but I'll be happy with just 10%
FTNT is seems a good momentum pattern. It also running within a downward channel. Now of if it breaks out it can go all the way up to 36 & higher
Trade Criteria
Entry Target Criteria- Break of $32
Exit Target Criteria- $36 & Higher
Stop Loss Criteria- N/A
You can check detailed analysis on FTNT in the trading room/ Executive summary link ...
This stock has gapped up on news and consolidated and now has moved through the resistance, would like to see more volume but could be start of upward move. For early entry now is the time, however manage risk if it comes back down into range exit trade. If you want to wait for re test can see if it bounces in a few days
FTNT only has data going back to 2009 and has been in consolidation for the majority of that time. However, it has a good volume of stock traded on a daily basis and is nicely priced at below $50 (making it cheaper to trade than more expensive stocks).
Since breaking out above the 2012 pivot high ($28.82) in December 2014 price did retrace to retest this zone ...
