$FTNT has been in a “Go” trend since gapping higher in early August.
We have seen higher highs and higher lows since. At the most recent high, we saw a Go Countertrend Correction Icon (red arrow), indicating that price may struggle to go higher in the short term. Indeed, following that signal, GoNoGo Trend painted a string of weaker aqua bars as price fell. During that time, GoNoGo Oscillator fell to test the zero line from above. After spending a couple of bars resting at zero, the oscillator rallied back into positive territory. This tells us that momentum is resurgent once again in the direction of the underlying “Go” trend and has triggered a Go Trend Continuation Icon (green circle) under the price bar. We will look to see if this gives price the push it needs to set a new higher high.
