Fortinet (FTNT) Recently Broke Out Above the 50-Day Moving Average

Fortinet (FTNT) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, FTNT broke through the 50-day moving average, which suggests a short-term bullish trend.The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.Shares of FTNT have been moving higher over the past four weeks, up 5.8%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that FTNT could be poised for a continued surge.The bullish case solidifies once investors consider FTNT's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 16 higher, while the consensus estimate has increased too.Investors should think about putting FTNT on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.Quantum Computing Stocks Set To SoarArtificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.Access the Report Free Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fortinet, Inc. (FTNT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks