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Watch for Continued Gains in Shares of Fortinet Inc (FTNT)

By Shiri Gupta

Shares of Fortinet Inc (NASDAQ:FTNT) traded at a new 52-week high today of $66.48. So far today approximately 103,000 shares have been exchanged, as compared to an average 30-day volume of 1.5 million shares.

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.

Over the past year, Fortinet Inc has traded in a range of $35.44 to $66.48 and is now at $66.36, 87% above that low. The 200-day and 50-day moving averages have moved 0.82% higher and 0.99% higher over the past week, respectively.

Based on a current price of $66.36, Fortinet Inc is currently 9.8% above its average consensus analyst price target of $59.86. Fortinet Inc shares have support at the 50-day moving average (MA) of $61.52 and additional support at the 200-day MA of $49.82.

SmarTrend is tracking the current trend status for Fortinet Inc and will alert subscribers who have FTNT in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows Fortinet Inc

Ticker(s): FTNT