Verified Investing on $FTNT (Oct 29, 2026)
FTNT fell 20% but closed above its old parallel channel, which the speaker calls a near-term win for the optimist — based on that close above key support, not on the drop. More selling should find support at 120.63, with 115 to 120 as a safety net; confirmation requires tomorrow to clear 143.79 and close above today's candle.
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Next up, guys, is the Fortinet stock. This stock experienced a significant drop today, with a decrease of 20%. But it ended trading well below its lowest levels. Look at that wonderful ending.
Indeed, he has risen to the top. I know I zoomed in on the graph, and that was really to illustrate the same thing we went through with Google, okay? What I did by using Fibonacci retracement tools was simplify things.
I don't have all the other levels. I am simply highlighting the fact that this is a 50% decline. If we see more selling on FTNT stock, this level at 120.63 is likely to provide plenty of support for the price.
Also note, if we go back a little on the chart , we have a pivot peak here at $114.54. There, that formed the upper end of that parallel channel. Therefore, that area, approximately 115 to 120, would serve as a good safety net.
But, for now, we should commend FTNT stock. As I round on the graph, look at that end . We have finished trading above the old parallel channel. It was a tough fight for FTNT's stock to get back above that parallel channel.
So, if you're optimistic about this stock, I consider it a near-term win based on the closing price. Not because of the 20% drop, but based on today's closing price, above this key support level .
You want to see the price tomorrow simply rise and break through the minor resistance level at 143.79 , with a higher close than today's candle to help move away from the support level it just closed above.
But as you can see in after- hours trading, it is now fluctuating just above that parallel line. It will be interesting to see what route he takes tomorrow morning.
If we see more selling on FTNT stock, this level at 120.63 is likely to provide plenty of support for the price. Also note, if we go back a little on the chart, we have a pivot peak here at $114.54.
There, that formed the upper end of that parallel channel. Therefore, that area, approximately 115 to 120, would serve as a good safety net.
But, for now, we should commend FTNT stock. As I round on the graph, look at that end. We have finished trading above the old parallel channel. It was a tough fight for FTNT's stock to get back above that parallel channel.
So, if you're optimistic about this stock, I consider it a near-term win based on the closing price. Not because of the 20% drop, but based on today's closing price, above this key support level.
You want to see the price tomorrow simply rise and break through the minor resistance level at 143.79, with a higher close than today's candle to help move away from the support level it just closed above.
But as you can see in after-hours trading, it is now fluctuating just above that parallel line. It will be interesting to see what route he takes tomorrow morning.