“Cybersecurity Stocks to Watch: 4 Names Showing Strength”
FTNT's weekly chart shows a large-volume breakout with a pivot near $87-88 and many consecutive up weeks closing in the upper half of their ranges, signaling great strength, though the triangle breakout has not extended much on low volume; selling covered puts earns income while it rises, though a rise is not assured.
Let's start with the world's leading company, Fortinet (FTNT). If you look at this stock on a weekly basis, you'll notice a great chart , won't you? We have seen a breakout candle with a large trading volume here.
That's why we always talk about reading charts, because if you can identify breakout points, you'll find what we call a pivot point at $87 or so, $88. Look at that candle, isn't that right ?
It has risen by 55% of its weekly trading volume , which is a huge candle.