Score 8.3 (out of 10): FORTINET sets up for +15.5% rally in 2 months

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What’s Going On Here?

NEC and Fortinet have entered a global agreement to jointly build secure 5G networks for communication service providers (CSPs). Through the partnership, Fortinet will provide its comprehensive best-in-class security solutions, including new windowFortiGate – the world’s most deployed next-generation firewall.

Why Now?

FORTINET has triggered a new volatility signal (1 month). During similar occasions, FORTINET shares had a median return of +15.5%, over the following 2 months – based on 10 historical occasions with 9 of those showing positive returns (90%). This buy signal for FORTINET received a high score of 8.3 (out of 10). This insight was generated on 2022-September-6 with last price of 49.65.

What’s This Token About?

FORTINET is in the Computer Data Security business. Based on the last 2 years’ risk/return profile, this asset is seen as Less Risky. Ticker symbol: FTNT US.

What’s My Risk / Reward and Time Horizon?

We found 2 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 57.36 (+15.5%) has been reached. Based on FORTINET’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 46.95 (last price at 49.65), which is equivalent to a -5.4% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

29.3% (June-2021), 21.2% (April-2021), 23% (February-2021), 14.5% (December-2019), 31% (September-2019), 2% (July-2019), -13.1% (September-2018), 8.4% (November-2017), 5.5% (August-2017), 16.6% (January-2017).

Historical Chart:

Summary:

NameFORTINET
ViewUp
Star (1 to 10)8.3
Target15.5%
Time2 months
Hit Rate90%

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