The most profitable trade in the long book turns higher again
Fortinet rebounds 6.3% as buyers retake control off the daily EMA20
The most profitable trade in the long book turns higher again
Our view last week
Fortinet stock technical analysis: after weeks of a stretched rally, last week already flashed a warning — RSI above 84 and a rolling-over MACD — and this week the bill comes due. The stock slips 5.7%, with sellers taking control of volume at 89%. The weekly RSI still eases to 74, high but less extreme, while ADX climbs to 44.2: the trend is gaining conviction despite the pullback. The trade remains the most profitable in the US long book, up 76.58% from entry.
This week's summary
Fortinet closes the week up 6.3%, the mirror image of last week's selloff: buyers retake volume control at 71%, ADX climbs to 44.1 and the rally springs right off the daily EMA20, in the 155 area, recovering 13% from the low touched in the 144 area. The picture still runs overbought though, with an indecisive last candle: the stock is hugging its all-time highs, with little room before the next resistance.
IQS Phase
65
ordinary
Signal Strength
87
high · wide move
Sizing
FULL
Ranking
#1 / 120
US stocks in progress
Trade P&L %
+87.68%
from signal to date, no stop loss
Rank position
ranks 1st among the 120 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 regimeweak phase
Performanceweekly -0.30% · monthly -5.53%
FTNT belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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