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Shares of Fortinet Inc Rise to a New 52-Week High

By Nick Russo

Shares of Fortinet Inc (NASDAQ:FTNT) traded at a new 52-week high today of $95.59. So far today approximately 308,000 shares have been exchanged, as compared to an average 30-day volume of 1.6 million shares.

Over the past year, Fortinet Inc has traded in a range of $53.40 to $95.59 and is now at $95.33, 79% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 1.8%.

Fortinet Inc. provides network security solutions. The Company offers network security appliances, related software, and subscription services. Fortinet systems integrate the industry's broadest suite of security technologies, including firewall, VPN, antivirus, intrusion prevention (IPS), web filtering, antispam, and traffic shaping.

Fortinet Inc (NASDAQ:FTNT) is currently priced 37.2% above its average consensus analyst price target of $59.86. The stock should find initial support at its 50-day moving average (MA) of $84.38 and further support at its 200-day MA of $77.67.

SmarTrend recommended that subscribers consider buying shares of Fortinet Inc on March 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $86.90. Since that recommendation, shares of Fortinet Inc have risen 6.7%. We continue to monitor FTNT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Fortinet Inc

Ticker(s): FTNT