FORTINET INC. - Daily - Technical analysis published on 08/29/2020 (GMT)
- Who voted?
- 337
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
A split or consolidation has occurred on this instrument. There is no more graph available on this analysis.
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Neutral
Technical indicators
39%
22%
39%
My opinion
Bearish under 133.37 USD
My targets
121.33 USD (-7.20%)
114.43 USD (-12.48%)
My analysis
The current short-term bearish acceleration registered on FORTINET INC. should quickly allow the basic trend to return to a bearish trend. To avoid contradicting the short term, traders could favour short positions (for sale) as long as the price remains well below 133.37 USD. Short-term sellers will use the support located at 121.33 USD as an objective. A bearish break of this support would revive the bearish momentum. The next bearish objective would then be set at 114.43 USD. Crossing this support would then open the door for sellers to target 105.03 USD. Caution, if there is a return to below 133.37 USD, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend buyers, many of whom will certainly benefit from this movement.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
1.3
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 hsokkar. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The FORTINET INC. price is 130.74 USD. The price registered a decrease of -1.01% on the session and was traded between 130.06 USD and 134.24 USD over the period. The price is currently at +0.52% from its lowest and -2.61% from its highest.130.06
134.24
130.74
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this Daily chart of FORTINET INC. indicates that the overall trend is not clearly defined. The trend could quickly turn bearish due to the strong bearish signals currently being given by short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : Daily
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : Daily
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : Daily
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 7 are bullish, 7 are neutral and 4 are bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
RSI indicator is back under 50
Type : Bearish
Timeframe : Daily
Aroon indicator bullish trend
Type : Bullish
Timeframe : Daily
Ichimoku - Bullish crossover : Tenkan & Kijun
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
Resistance of triangle is broken
Type : Bullish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Upside Tasuki gap
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 105.03 | 114.43 | 121.33 | 130.74 | 133.37 | 149.60 |
| Change (%) | -19.66% | -12.48% | -7.20% | - | +2.01% | +14.43% |
| Change | -25.71 | -16.31 | -9.41 | - | +2.63 | +18.86 |
| Level | Minor | Minor | Intermediate | - | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 123.11 | 126.76 | 129.42 | 133.06 | 135.72 | 139.37 | 142.02 |
| Camarilla | 130.34 | 130.92 | 131.49 | 132.07 | 132.65 | 133.23 | 133.80 |
| Woodie | 122.62 | 126.51 | 128.92 | 132.82 | 135.22 | 139.12 | 141.52 |
| Fibonacci | 126.76 | 129.17 | 130.66 | 133.06 | 135.47 | 136.96 | 139.37 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 121.40 | 124.50 | 128.10 | 131.21 | 134.81 | 137.92 | 141.52 |
| Camarilla | 129.87 | 130.48 | 131.10 | 131.71 | 132.33 | 132.94 | 133.56 |
| Woodie | 121.65 | 124.62 | 128.36 | 131.33 | 135.07 | 138.04 | 141.77 |
| Fibonacci | 124.50 | 127.06 | 128.64 | 131.21 | 133.77 | 135.35 | 137.92 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 96.67 | 110.45 | 124.38 | 138.16 | 152.09 | 165.87 | 179.80 |
| Camarilla | 130.68 | 133.22 | 135.76 | 138.30 | 140.84 | 143.38 | 145.92 |
| Woodie | 96.74 | 110.49 | 124.45 | 138.20 | 152.16 | 165.91 | 179.87 |
| Fibonacci | 110.45 | 121.04 | 127.58 | 138.16 | 148.75 | 155.29 | 165.87 |
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): | 46.42 | |
| MACD (12,26,9): | -0.5300 | |
| Directional Movement: | -0.12 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 131.53 | |
| Parabolic SAR (0,02-0,02-0,2): | 123.67 | |
| Elder Ray (13): | -0.06 | |
| Super Trend (3,10): | 141.30 | |
| Zig ZAG (10): | 130.74 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 65.89 | |
| TEMA (21): | 131.63 | |
| Williams %R (14): | -50.79 | |
| Chande Momentum Oscillator (20): | 4.04 | |
| Repulse (5,40,3): | -3.3000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1200 | |
| Courbe Coppock: | 0.19 |
| MA7: | 133.10 | |
| MA20: | 132.16 | |
| MA50: | 134.73 | |
| MA100: | 130.36 | |
| MAexp7: | 132.37 | |
| MAexp20: | 132.45 | |
| MAexp50: | 132.71 | |
| MAexp100: | 128.48 | |
| Price / MA7: | -1.77% | |
| Price / MA20: | -1.07% | |
| Price / MA50: | -2.96% | |
| Price / MA100: | +0.29% | |
| Price / MAexp7: | -1.23% | |
| Price / MAexp20: | -1.29% | |
| Price / MAexp50: | -1.48% | |
| Price / MAexp100: | +1.76% |
Quotes :
2020-08-28 19:59:59
-
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:
- Windstream Enterprise Adds Concierge-Level Service to Fortinet SD-WAN Offering
- Thinking about trading options or stock in Apple, Alibaba, Fortinet, Kimberly Clark, or Mcdonald's?
- Fortinet Next-generation Firewalls Provide Routing, VPN Management and Security Enforcement to Aptilo IoT Connectivity Control Service
- GTT Expands SD-WAN Portfolio by Adding Fortinet Secure SD-WAN
- Safe-T Joins Fortinet as a Fabric-ready Technology Alliance Partner
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. - Daily