FTNT which develops unified threat management systems to provide security and networking functions had another pocket pivot off its 10-dma and 20-dema. We had reported on FTNT's prior pocket pivots, though due to market weakness where the NASDAQ Composite pulled back to its 20-dema twice in June, FTNT remained in its base. Contextually, one could have added at those points as the pullbacks were constructive.
Note that another good entry was when FTNT posted an undercut & rally (U&R) long entry signal at the prior May low. The U&R long entry set-ups is simple: once the stock undercuts a significant prior low in its pattern and rallies above it, the U&R entry is triggered using the prior low as a tight selling guide.
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