Fortinet (FTNT:NASDAQ)

Fortinet’s recently issued guidance of a 24-28% increase in revenue for the first quarter, and an overall 21-23% rise throughout the year has surpassed Wall Street expectations. This news, along with last year’s $1.99 billion spent on buybacks that reduced outstanding shares by 4%, has boosted investor confidence and pushed prices higher than their original mark – something that looks to have been a savvy move by the company. We remain optimistic for the outlook of FTNT so long as prices reside above $52-$53 – with our target price reaching as high as $81-$83.

NVIDIA Corporation (NVDA:NASDAQ)

Nvidia stock has been on an impressive upswing recently, increasing an incredible 75% over the last 70 days. It appears that a necessary correction will occur soon however, as weekly resistance is starting to form near $235. Should a correction take place, the new support level can be expected to be at the next weekly previous resistance area – which has since become support. 

On the daily timeframe, recent trading has created a new resistance zone near $235 and if market conditions follow through with a short-term correction, then this same area should be turned into strong support. All in all, it looks as though Nvidia could be in store for some choppy trading soon before resuming its predominantly bullish trend.

BTC/USDT

Bitcoin is currently falling at a rate of speed towards a target of $18,166.

From a trading perspective, the best thing to do right now is to wait for the move to unfold. We can observe where the new range arises and begin trading it after the volatility has subsided.

RNDR/USDT

With a price of $0.80, RNDR is getting close to its midpoint. We will be keeping an eye out for a response there. If that level holds, a bounce should be expected. In that case, it’s possible that the price drops to the range low.

And that is sitting at $0.40.