Fortinet may fall to 52.00 - 53.20

Our pivot point is at 60.3.

Our preference

The downside prevails as long as 60.3 is resistance.

Alternative scenario

The upside breakout of 60.3 would call for 62.3 and 63.5.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 59.3375 and 59.6812).

Supports and resistances

63.5 **

62.3 *

60.3 **

59.4

57.31 (USD-last)

54.4

53.2 **

52 *

50.8 **

Number of asterisks represents the strength of support and resistance levels.