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Fortinet Inc Rises 19.42% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Fortinet Inc (NASDAQ:FTNT) traded in a range yesterday that spanned from a low of $94.25 to a high of $95.00. Yesterday, the shares gained 19.4%, which took the trading range above the 3-day high of $94.95 on volume of 91,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Fortinet Inc have traded between a low of $64.41 and a high of $96.96 and are now at $94.71, which is 47% above that low price. The 200-day and 50-day moving averages have moved 0.53% higher and 1.28% higher over the past week, respectively.

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: rebounders Fortinet Inc

Ticker(s): FTNT