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Bearish Moving Average Cross by Fortinet Inc (FTNT)

By Amy Schwartz

Today, shares of Fortinet Inc (NASDAQ:FTNT) have crossed bearishly below their 10-day moving average of $86.24 on a volume of 152K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Fortinet Inc share prices have moved between a 52-week high of $96.96 and a 52-week low of $62.27 and are now trading 38% above that low price at $85.77 per share. The 200-day and 50-day moving averages have moved 0.06% lower and 0.44% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Fortinet Inc on June 20th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $77.85. Since that recommendation, shares of Fortinet Inc have risen 11.2%. We continue to monitor FTNT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Fortinet Inc

Ticker(s): FTNT