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Bullish Moving Average Cross by Fortinet Inc (FTNT)

By Nick Russo

Today, shares of Fortinet Inc (NASDAQ:FTNT) have advanced above their 10-day MA of $58.69 on a volume of 139K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Fortinet Inc share prices have been bracketed by a low of $28.50 and a high of $60.81 and are now at $58.93, 107% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.5%.

SmarTrend recommended that subscribers consider buying shares of Fortinet Inc on November 21st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.18. Since that recommendation, shares of Fortinet Inc have risen 41.5%. 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