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Bullish Moving Average Cross by Fortinet (FTNT)

By David Diaz

Fortinet (NASDAQ:FTNT) shares have crossed bullishly above their 10-day moving average of $39.53 on a volume of 1.2 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Fortinet share prices have moved between a 52-week high of $50.31 and a 52-week low of $23.16 and are now trading 77% above that low price at $40.92 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.6%.

SmarTrend recommended that subscribers consider buying shares of Fortinet on January 11th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.39. Since that recommendation, shares of Fortinet have risen 20.8%. We continue to monitor FTNT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses fortinet

Ticker(s): FTNT