Fortinet (FTNT) : Traders are bullish on Fortinet (FTNT) as it has outperformed the S&P 500 by a wide margin of 10.22% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.65%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.17% in the last 1 week, and is up 10.07% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 6.32% and the 50-Day Moving Average is 8.1%.The 200 Day SMA reached 16.88%. Fortinet Inc. is up 6.45% in the last 3-month period. Year-to-Date the stock performance stands at 18.16%.
Fortinet (NASDAQ:FTNT): After opening at $36.8, the stock dipped to an intraday low of $36.585 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $37.03 and the buying power remained strong till the end. The stock closed at $36.83 for the day, a gain of 0.52% for the day session. The total traded volume was 1,310,187. The stocks close on the previous trading day was $36.64.
Fortinet, Inc. provides cyber security solutions to enterprise, service providers and government organizations across the world. The Companys network security solution consists of FortiGate physical and virtual appliance products that provide an array of integrated security and networking functions to protect data, applications and users from network-and content-level security threats. The Companys FortiGate appliances may be deployed as Next Generation Firewalls (NGFW), Data Center Firewalls (DCFW), Unified Threat Management (UTM) systems, Internal Network Firewall (INFW), Virtual Machine Firewalls or Cloud Firewalls. The FortiGate appliances range from the FortiGate-20 series for small businesses and branch offices to the FortiGate-5000 series for enterprises and service providers, and are based on its technology platform. Its security services are based on intelligence gathered by its FortiGuard Labs team.