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Fortinet Bearish Moving Average Crossover Alert (FTNT)

By David Diaz

Today, shares of Fortinet (NASDAQ:FTNT) have crossed bearishly below their 10-day moving average of $36.74 on a volume of 160K 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.

In the past 52 weeks, Fortinet share prices have been bracketed by a low of $23.16 and a high of $50.31 and are now at $36.52, 58% above that low price. 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 14.0%. 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