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After Yesterday's Rally of 1.14% Shares Could Potentially Pullback

By Amy Schwartz

Fortinet Inc (NASDAQ:FTNT) traded in a range yesterday that spanned from a low of $52.63 to a high of $53.34. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $52.55 on volume of 453,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Fortinet Inc share prices have moved between a 52-week high of $53.34 and a 52-week low of $28.50 and are now trading 86% above that low price at $52.97 per share. Over the past week, 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 27.4%. We continue to monitor FTNT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Fortinet Inc

Ticker(s): FTNT