Fortinet Inc (FTNT): Price Now Near $164.1; Daily Chart Shows An Uptrend on 20 Day Basis

The Hourly View for FTNT

At the moment, FTNT’s price is down $-7.15 (-4.17%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them so that price is now turning below them. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

FTNT’s Technical Outlook on the Daily Chart

At the time of this writing, FTNT’s price is down $-6.31 (-3.7%) from the day prior. FTNT has seen its price go up 8 out of the past 10 days, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. Fortinet Inc’s price action over the past 90 days can be seen via the chart below.

FTNT

For FTNT News Traders

Investors and traders in FTNT may be particularly interested in the following story that came out in the past day:

Fortinet, Inc. — Moody’s assigns (P)Baa1 shelf rating to Fortinet; outlook stable

Rating Action: Moody’s assigns (P)Baa1 shelf rating to Fortinet; outlook stableGlobal Credit Research – 22 Feb 2021New York, February 22, 2021 — Moody’s Investors Service (“Moody’s”) assigned a (P)Baa1 rating to Fortinet, Inc.’s (“Fortinet”) senior unsecured shelf registration. The rating outlook is stable.Assignments:..Issuer: Fortinet, Inc…..Senior Unsecured Shelf, Assigned (P)Baa1 Outlook Actions: ..Issuer: Fortinet, Inc. ….Outlook, Assigned Stable RATINGS RATIONALE The Baa1 rating reflects Fortinet’s very good competitive position in the large and growing Network Security market, strong growth prospects, and Moody’s expectations for a low financial risk profile.

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