Fortinet (NASDAQ: FTNT) prolonged its upside transfer above our earlier $140 goal. At this time, we analyze the present Elliott Wave construction. Our evaluation focuses on this upside extension and the projected goal for the present cycle.
Fortinet is presently inside the strongest leg of its impulsive cycle. The inventory is extending greater in wave (3) of ((3)) of III. It broke above the $140 goal space. The nesting construction from the lows continues unfolding as anticipated. This sturdy third wave ideally reaches the 1.618 Fibonacci extension at $184. The cycle often pushes costs past that concentrate on. Consequently, we count on the inventory to stay supported throughout wave IV pullbacks. Then, it can search for one other extension in wave V.
Fortinet’s incomplete bullish sequence suggests wave III will prolong additional above the $180 golden ratio. Finally, it ought to break above $200 because the five-wave construction unfolds.
Fortinet (FTNT) weekly chart 7.3.2026
Conclusion
FTNT’s impulsive bullish cycle operates at full energy and the inventory continues searching for additional upside extension. Subsequently, traders ought to goal shopping for alternatives inside each day and weekly pullbacks.
