Jay Woods Identifies Fortinet's $127.40 Low as Key Support

Jay Woods of Chase Games identified Fortinet's Thursday post-earnings low of $127.40 as a key support level after slower product growth and a reduced services outlook weighed on shares.

Fortinet beat and raised last week, but its slowing product trend and weaker services outlook pressured the stock.

The $127.40 mark stood slightly above Fortinet's rising 200-day moving average and the anchored volume-weighted average price (VWAP) measured from its 2026 low. In chart analysis, support is a price level where buying interest may slow or halt a decline. Woods cited longer-term momentum indicators on the weekly chart as another source of downside risk.