Here’s a look at Fortinet (FTNT) in two timeframes. (April 15, 2019)
FTNT
I want to look at Fortinet ( NASDAQ: FTNT ) here in two different time frames. First of all, this is a stock that is on our Growth Stock List; we put that on back here. The fundamentals are really, really solid, really solid on this company. It is up over 13 percent from when it was put on.
This is good in two different time frames; I am actually long this stock in two different accounts, one is my trading account and I will look for $100.00 or so. I don’t know whether it is going to hit that or not, you don’t know, but the stock is up every single day over the last seven days of trading. It is popping out of a cup and handle pattern here. This little thing here and then we look to see that to pop up there, so that’s working.
If you look at it on a weekly chart, this really looks promising. Again, weekly chart, this the chart where when you look at this the next thing you should look at are the fundamentals of the company because they go hand in hand. A daily chart doesn’t really work well with fundamentals. You’re talking about the value of the company versus the day-to-day movements of a stock.
Here, on Fortinet ( NASDAQ: FTNT ), their growth rate in revenues and earnings per share is really, really high, it is really strong. With that, I’ll take it in my investment account as well as my trading account. Their growth rate over 3 to 5 years, 31 percent; their earnings per share rating in terms of consistency, quality and growth is up in like the 98 percentile; that’s pretty good. If this was a basketball player it could definitely dunk.
What I would suggest doing is, if you are looking for a trade the better time to buy the stock recently would have been on this breakout here above this line. That would have been a better time to buy the stock. Now, you should just really just be adding to that position if you are looking for a little more exposure, which is what I did today. That addition to my position was because of the weekly chart; because it looks like it is just getting going. I think it is certainly reasonable to look at; this is a 42 percent trough to peak thing, look at 27.50 so I will go conservative and say 25.00. I have a price target here of $115.00 on this. So if Fortinet ( NASDAQ: FTNT ) runs up to $115.00 I will probably do another video on it and tell you how happy I am that I am taking some profits.
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