After reaching an important support level, Fortinet (FTNT - Free Report) could be a good stock pick from a technical perspective. FTNT surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Shares of FTNT have been moving higher over the past four weeks, up 6.6%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that FTNT could be poised for a continued surge.
The bullish case only gets stronger once investors take into account FTNT's positive earnings estimate revisions. There have been 16 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Investors may want to watch FTNT for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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After reaching an important support level, Fortinet (FTNT - Free Report) could be a good stock pick from a technical perspective. FTNT surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Shares of FTNT have been moving higher over the past four weeks, up 6.6%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that FTNT could be poised for a continued surge.
The bullish case only gets stronger once investors take into account FTNT's positive earnings estimate revisions. There have been 16 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Investors may want to watch FTNT for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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