Dec. 11 at 10:44 PM
Actionable Trade Alert for
$FTNT:
Market Context:
$FTNT is currently trading at
$82.62, showing strong momentum with an RSI of 64.12, indicating it is nearing overbought territory but still has room for upward movement. The price is above the 30-day moving average (MA30) of
$82.5 but below the 50-day moving average (MA50) of
$83.43, suggesting potential resistance ahead.
Directional Bias: The recent price action is bullish, and with the 60-day high at
$87.66, there is a clear target for upward movement. The ATR of 2.06 indicates moderate volatility, allowing for reasonable price swings.
Trade Plan:
- Suggested Entry:
$82.75
- Stop Loss:
$80.50 (1.5% below entry)
- Take Profit Targets:
1.
$85.00 (2.7% gain)
2.
$86.50 (4.5% gain)
3.
$97.00 (17.3% gain)
This trade plan allows for a solid risk-reward ratio, with the potential for significant returns.
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