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SmarTrend Watching for Potential Rebound in Shares of Fortinet Inc After 1.15% Loss

By David Diaz

Fortinet Inc (NASDAQ:FTNT) traded in a range yesterday that spanned from a low of $99.78 to a high of $102.96. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $102.34 on volume of 370,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Fortinet Inc share prices have been bracketed by a low of $64.41 and a high of $106.00 and are now at $102.73, 59% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.2%.

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