Fortinet · new all-time high awaiting confirmation
Fortinet gains 4.3% and prints a new all-time high the weekly close fails to confirm
Our view last week
Fortinet adds 2.1% and pushes its weekly RSI to 71.4, but this time the tape changes hands: after last week's 61% buying, sellers lead the weekly bar with 57% of volume. On the daily chart Fortinet stock prints 4 higher lows, from the 152 area to the 166 area. Our technical analysis follows the trade, one of the US tech stocks we track, now up 101% since entry.
This week's summary
Fortinet gains 4.3% and prints a new all-time high in the 183 area, yet the weekly close stays below the old record: the new high is unconfirmed. What changed from 7 days ago is the weekly MACD, back above its Signal line after 4 weeks, while RSI climbs to 74. Money flow has improved for 3 weeks and is still negative. Our technical analysis of Fortinet stock, one of the US tech stocks with weekly buy signals still running, tracks a swing trading position up 109.7% since entry.
IQS Phase
57
ordinary
Signal Strength
87
high · wide move
Sizing
FULL
Ranking
#1 / 93
US stocks in progress
Trade P&L %
+109.70%
from signal to date, no stop loss
Fortinet (FTNT) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 1st among the 93 Longs already running for US stocks in our ranking, with a signal strength of 87 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly +1.80% · monthly +8.83%
FTNT belongs to the growth tech sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
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