In this daily bar chart of FTNT, below, we can see a sideways to higher trading range for FTNT the past 12 months. The sideways part is the highs around $95 and the higher part are the lows around $65 and then $70. Prices just traded above the declining 50-day and 200-day moving averages but we know they are lagging indicators.
The daily On-Balance-Volume (OBV) line has moved higher from early January and is just below its early May high.
The Moving Average Convergence Divergence (MACD) oscillator crossed to the upside in early June for a cover shorts buy signal. Now the oscillator is crossing the zero line for an outright go long signal.
In this weekly bar chart of FTNT, below, we can see an interesting pattern. There are twin or double peaks but prices have not broken below $65 to complete that potentially bearish pattern. The slope of the 40-week moving average line is pointed down.
The weekly OBV line is mirroring the price action and is not far from making a new high for the move up. The MACD oscillator is narrowing towards a possible buy signal.
In this Point and Figure chart of FTNT, below, there is an upside price target of around $88 indicated - not a breakout to new highs.
Bottom line strategy: Above $90 and it looks like FTNT is going to break out on the upside but a close below $74 looks like prices will go lower. The Oracle of Delphi has spoken.