By rule, any test of resistance is a short signal. We should have a stop loss in place at 316.26 though in case the stock begins to move against the trade. The technical summary data is suggesting a short of FTNT if it tests 315.35 with a downside target of n/a.
In this case, 315.35, initial resistance, would be breaking higher, so a buy signal would exist. 315.35 is the first level of resistance above 310.54, and by rule, any break above resistance is a buy signal. The data also tells us to set a stop loss 314.44 in case the stock turns against the trade. If 315.35 begins to break higher, the technical summary data tells us to buy FTNT just over 315.35, with an upside target of 319.32. In this case, if resistance 319.32 is being tested, so a short signal would exist. 319.32 is the first level of resistance above 310.54, and by rule, any test of resistance is a short signal. The summary data tells us to have a stop loss in place at 320.24. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped.
The technical summary data is suggesting a short of FTNT as it gets near 319.32, but the downside target is not available from the current data. Short FTNT under 319.32, target n/a, stop loss 320.24 Details.In any case, new support levels are usually revised to the database at the beginning of the next trading session. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. This often is a signal that the stock you are watching is weak. Buy signals only exist if resistance breaks higher. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. There is no current Support Plan to trigger a buy of this stock at this time. Source: Stock Traders Daily Longer Term Trading Plans for FTNT
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