Details: Wave (4) appears to have completed within a triangle pattern. With price support above $100, the next move is likely upward continuation in Wave 1.

Fortinet Inc. is showing signs of entering a new bullish phase on the daily chart. Following the completion of Wave (4), which formed as a triangle, the market has found a technical base for Wave (5) to begin. With strong support holding above the $100 level, price action is aligned with the development of Wave 1 of (5), reinforcing the overall bullish outlook.

Fortinet Inc. (FTNT) – One-hour chart overview

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave {iii} of 1.

Direction: Acceleration in Wave {iii}.

Details: Wave {ii} appears complete. A minor pullback in Wave (ii) of {iii} may occur before continued upward movement.

The 1-hour chart supports the broader trend with a confirmed progression into Wave {iii} of 1. After concluding Wave {ii}, price action indicates a potential short-term correction within Wave (ii) of {iii}. Despite this, the dominant trend remains bullish, with upside acceleration likely as the impulsive sequence unfolds.

Fortinet Inc. (FTNT) Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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