FORTINET INC. - 1H - Technical analysis published on 03/25/2024 (GMT)
- 92
- 0
- Timeframe : 1H
- - Analysis generated on
- Status : NEUTRAL
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Slightly bearish
Technical indicators
28%
22%
50%
My opinion
Neutral between 65.20 USD and 70.30 USD
My targets
-
My analysis
The basic trend is slightly bearish and the short term is tentatively bullish. With such a pattern, it is difficult to favour buying or selling. The first resistance is located at 70.30 USD. The first support is located at 65.20 USD. Without a basic trend, it is be important to monitor the price reaction at the first levels of resistance or support. A bullish break in resistance could quickly reverse the basic trend. A bearish break in the support would be welcome to boost the slightly bearish basic trend. On the other hand, if the price is blocked by resistance or support, it could be attractive to trade against the trend on the last short-term movement registered by FORTINET INC..
In the very short term, the neutral opinion of this analysis is confirmed by technical indicators which are also neutral.
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The FORTINET INC. price is 68.25 USD. The price is lower by -0.07% since the last closing and was between 67.61 USD and 68.41 USD. This implies that the price is at +0.95% from its lowest and at -0.23% from its highest.67.61
68.41
68.25
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by FORTINET INC.:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of FORTINET INC. in 1H shows an overall slightly bearish trend. 57.14% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently given by short-term moving averages could cause a reversal of the trend. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, of the 18 technical indicators analysed by Central Analyzer, 5 are bullish, 9 are neutral and 4 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish harami cross
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 62.88 | 65.20 | 68.13 | 68.25 | 70.30 | 71.66 | 73.53 |
| Change (%) | -7.87% | -4.47% | -0.18% | - | +3.00% | +5.00% | +7.74% |
| Change | -5.37 | -3.05 | -0.12 | - | +2.05 | +3.41 | +5.28 |
| Level | Intermediate | Major | Major | - | Minor | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 66.18 | 66.85 | 67.58 | 68.25 | 68.98 | 69.65 | 70.38 |
| Camarilla | 67.92 | 68.04 | 68.17 | 68.30 | 68.43 | 68.56 | 68.69 |
| Woodie | 66.20 | 66.87 | 67.60 | 68.27 | 69.00 | 69.67 | 70.40 |
| Fibonacci | 66.85 | 67.39 | 67.72 | 68.25 | 68.79 | 69.12 | 69.65 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 64.38 | 65.41 | 66.86 | 67.89 | 69.34 | 70.37 | 71.82 |
| Camarilla | 67.62 | 67.85 | 68.07 | 68.30 | 68.53 | 68.76 | 68.98 |
| Woodie | 64.58 | 65.52 | 67.06 | 68.00 | 69.54 | 70.48 | 72.02 |
| Fibonacci | 65.41 | 66.36 | 66.95 | 67.89 | 68.84 | 69.43 | 70.37 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 49.19 | 55.10 | 62.10 | 68.01 | 75.01 | 80.92 | 87.92 |
| Camarilla | 65.56 | 66.74 | 67.93 | 69.11 | 70.29 | 71.48 | 72.66 |
| Woodie | 49.75 | 55.37 | 62.66 | 68.28 | 75.57 | 81.19 | 88.48 |
| Fibonacci | 55.10 | 60.03 | 63.08 | 68.01 | 72.94 | 75.99 | 80.92 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 54.08 | |
| MACD (12,26,9): | 0.0600 | |
| Directional Movement: | 6.21 | |
| AROON (14): | -7.14 | |
| DEMA (21): | 68.09 | |
| Parabolic SAR (0,02-0,02-0,2): | 68.90 | |
| Elder Ray (13): | 0.05 | |
| Super Trend (3,10): | 67.00 | |
| Zig ZAG (10): | 68.36 | |
| VORTEX (21): | 1.0500 | |
| Stochastique (14,3,5): | 46.90 | |
| TEMA (21): | 68.33 | |
| Williams %R (14): | -47.86 | |
| Chande Momentum Oscillator (20): | -0.32 | |
| Repulse (5,40,3): | 1.1400 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.58 |
| MA7: | 67.87 | |
| MA20: | 69.56 | |
| MA50: | 67.63 | |
| MA100: | 61.27 | |
| MAexp7: | 68.18 | |
| MAexp20: | 68.03 | |
| MAexp50: | 68.27 | |
| MAexp100: | 68.72 | |
| Price / MA7: | +0.56% | |
| Price / MA20: | -1.88% | |
| Price / MA50: | +0.92% | |
| Price / MA100: | +11.39% | |
| Price / MAexp7: | +0.10% | |
| Price / MAexp20: | +0.32% | |
| Price / MAexp50: | -0.03% | |
| Price / MAexp100: | -0.68% |
Quotes :
-
15 min delayed data
-
NASDAQ Stocks
News
The last news published on FORTINET INC. at the time of the generation of this analysis was as follows:
- Thinking about trading options or stock in Snowflake, Palantir Technologies, Rocket Pharmaceuticals, Fortinet, or Marathon Digital?
- Thinking about buying stock in Panbela Therapeutics, Fortinet, Palo Alto Networks, First Wave BioPharma, or Sphere 3D?
- Thinking about trading options or stock in Ford Motor, Palantir Technologies, Crispr Therapeutics, NVIDIA, or Fortinet?
- Kyndryl Launches New Managed SASE Service with Fortinet
- BetterInvesting™ Magazine Update on Fortinet Inc. and Peabody Energy Corp.
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis FORTINET INC. - 1H