Thankfully I exited my March FTNT calls on that huge pump because I had a feeling the pump wouldnt last. Palo Alto has taken cybersecurity down pretty hard this week. FTNT presents another gap within the previous gap from august. I added a box to display the full gap zone and how the stock has fallen almost all the way back to where we started.
The smaller box is a daily local demand that the stock is dipping into (buy zone).
My strategy here since this is one of my few tech longs is to add spot slowly on this dip. NVDA earnings and an overheated QQQ/SPX could lead to a correction soon, lower prices are on the horizon. I like FTNT because it presents one of the rare value opportunities in the tech space right now, everything else is too expensive.
My next plan is to coordinate another call setup. Possibly 3-6 months out 10-15% from current price for the strike. I wont do this until I see NVDA and fed updates.
The smaller box is a daily local demand that the stock is dipping into (buy zone).
My strategy here since this is one of my few tech longs is to add spot slowly on this dip. NVDA earnings and an overheated QQQ/SPX could lead to a correction soon, lower prices are on the horizon. I like FTNT because it presents one of the rare value opportunities in the tech space right now, everything else is too expensive.
My next plan is to coordinate another call setup. Possibly 3-6 months out 10-15% from current price for the strike. I wont do this until I see NVDA and fed updates.