Fortinet, Inc. (FTNT)--- they’re in the cybersecurity biz, and the seasonal calendar is setting up pretty well for this stock. The stock has been riding the top of the Bollinger Band channel for almost 3 weeks now, there ‘might’ be some profit taking soon and it ‘may’ pull back some. You’ll notice that the 20-day moving average within the 2 standard deviation Bollinger Bands seems to act as a decent support this year....while tracking above the 50-day Moving Average that many swing traders follow to determine risk on/risk off. Another point, you might want to see the stock pull back into an oversold zone like the one demonstrated with the RSI. Personally, I’d look for a slight pullback into the $210-ish price zone region, then I’d consider my choices in regards to initiating a bullish position.
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