Dec. 19 at 3:30 PM
Actionable Trade Alert for
$FTNT:
Market Context:
$FTNT is currently trading at
$79.75, showing a neutral RSI at 46.1, indicating no immediate overbought or oversold conditions. The price is below both the 30-day MA (81.7) and the 50-day MA (82.94), suggesting a bearish short-term trend. However, the price is also above the 60-day low of
$75.31, indicating potential support.
Directional Bias: With the RSI indicating neutrality and the price below key moving averages, we anticipate a potential reversal towards the upside, especially as it approaches the 60-day high of
$87.66.
Trade Plan:
- Suggested Entry:
$80.00 (slightly above the last close to confirm upward momentum)
- Stop Loss:
$77.50 (below recent support)
- Take Profit Targets:
1. Target 1:
$83.00 (3.75% gain)
2. Target 2:
$85.00 (6.75% gain)
3. Target 3:
$93.50 (17.3% gain)
This plan offers a strategic approach to capitalize on potential upward movement while managing risk effectively.
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