a little bit of buying pressure has come back as i write this but my prediction is that it continues to fall through december and get closer to the .5 - .618 zone
previous cycles needed more time for the indicators to show oversold, and I predict the same thing will play out here
sorry for the grammer, my fingers are cold
Price has broken out once more on July 12th. Ideally, we would like to see price continue to the upside towards $70, followed by the figure 100.
This is a stock that I've been watching for a couple months now, and has been gaining bullish momentum despite overall market conditions. Price found very strong support @ $61, before the bullish momentum that resulted...
FTNT is showing classic support and resistance level
previus level of support was 36-37.5
previus level of resistance was 41
last weel price broke above 41 level and retested that area successfully
price looking to retest old resistance at 44.7 and 46
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...
