Over the past twenty days of trading, Fortinet Inc. (NASDAQ: FTNT), from July 07, 2023 to August 03, 2023 there is a potential Short Squeeze about to happen because of an increase in short volume over the past twenty days with very little cover volume.
Because of this the Squeeze Report trend indicator issued a FTNT Short Squeeze.
Fortinet Inc. (NASDAQ: FTNT) Short Squeeze Analysis
During the last five days of trading, from July 28, 2023 to August 03, 2023 FTNT had a staggering 2,592,387 shares shorted while trading a total of 21,490,266 shares as show the on FTNT short page.
The last ten days of trading, from July 21, 2023 to August 03, 2023 FTNT had a staggering 5,526,332 shares shorted while trading a total of 48,510,403 shares as show the on FTNT short page.
Over the last twenty days of trading, from July 07, 2023 to August 03, 2023 FTNT had a staggering 11,701,281 shares shorted while trading a total of 99,146,054 shares as show the on FTNT short page.
According to our proprietary algorithm during the last five trading days there were 4 short days, 0 days with no change but 1 cover days. Over the last ten trading days there were 7 short days, 2 days with no change but 1 cover days. The last twenty trading days there were 9 short day, 7 days with no change but 4 cover days.
Fortinet Inc. (NASDAQ: FTNT) Short Squeeze Result
The short indicator utilizes several factors before determining a result and because of these indications we have placed a short trend indicator of FTNT Short Squeeze.
Fortinet Inc. (NASDAQ: FTNT) Short Squeeze Data
Twenty Day trading Totals
|Total Shorted Volume||11,701,281|
|Total Actual Volume||99,146,054|
|Total Volume Discrepancy||72,238,010|
|No Change Days||7|
|Average Volume Discrepancy||3,611,900|
|Average Short Volume||585,064|
|Average Short Percentage||46%|
The Short Trend Indicator
Squeeze Reports short trend indicator utilizes several different trading factors including, short data, trade data, short analysis and short probability. So become a member of Squeeze Report if you want to to gain access or know more about the short trend indicator and other short trading tools.
Fortinet Inc. (NASDAQ: FTNT) Chart
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