I am talking my book because I just increased my position on this drop. It’s not a recommendation, as per all NFTRH+ updates. It is however, a technical view of a setup on another quality but richly valued stock that the market is addressing this week.
The post-earnings drop has brought FTNT back to finally fill its May gap at a lateral support level. I think it can easily continue to drop to the channel bottom below 105, so if any miserly would-be buyers are interested they might wait for that area. A drop below there puts me in failed trade mode, since I am already long.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
