FORTINET INC. - 1H - Technical analysis published on 10/17/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
61%
0%
39%
My opinion
Bullish above 58.42 USD
My targets
59.70 USD (+1.03%)
61.37 USD (+3.86%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on FORTINET INC. as long as the price remains well above 58.42 USD. The buyers' bullish objective is set at 59.70 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 61.37 USD. If there is any crossing, the next objective would be the resistance located at 62.88 USD.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
5.9
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
FORTINET INC. rating 59.09 USD. The price is lower by -0.09% since the last closing with the lowest point at 57.71 USD and the highest point at 59.37 USD. The deviation from the price is +2.39% for the low point and -0.47% for the high point.57.71
59.37
59.09
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of FORTINET INC. indicates that the overall trend is bullish. 71.43% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 56.07 | 56.90 | 58.42 | 59.09 | 59.70 | 61.37 | 62.88 |
| Change (%) | -5.11% | -3.71% | -1.13% | - | +1.03% | +3.86% | +6.41% |
| Change | -3.02 | -2.19 | -0.67 | - | +0.61 | +2.28 | +3.79 |
| Level | Minor | Major | 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 | 56.16 | 57.00 | 58.07 | 58.91 | 59.98 | 60.82 | 61.89 |
| Camarilla | 58.62 | 58.79 | 58.97 | 59.14 | 59.32 | 59.49 | 59.67 |
| Woodie | 56.28 | 57.06 | 58.19 | 58.97 | 60.10 | 60.88 | 62.01 |
| Fibonacci | 57.00 | 57.73 | 58.18 | 58.91 | 59.64 | 60.09 | 60.82 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 51.16 | 53.61 | 55.69 | 58.14 | 60.22 | 62.67 | 64.75 |
| Camarilla | 56.51 | 56.93 | 57.35 | 57.76 | 58.18 | 58.59 | 59.01 |
| Woodie | 50.97 | 53.52 | 55.50 | 58.05 | 60.03 | 62.58 | 64.56 |
| Fibonacci | 53.61 | 55.34 | 56.41 | 58.14 | 59.87 | 60.94 | 62.67 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 46.86 | 52.03 | 55.35 | 60.52 | 63.84 | 69.01 | 72.33 |
| Camarilla | 56.35 | 57.12 | 57.90 | 58.68 | 59.46 | 60.24 | 61.02 |
| Woodie | 45.95 | 51.57 | 54.44 | 60.06 | 62.93 | 68.55 | 71.42 |
| Fibonacci | 52.03 | 55.27 | 57.27 | 60.52 | 63.76 | 65.76 | 69.01 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 54.85 | |
| MACD (12,26,9): | 0.1900 | |
| Directional Movement: | 0.22 | |
| AROON (14): | 28.57 | |
| DEMA (21): | 58.85 | |
| Parabolic SAR (0,02-0,02-0,2): | 57.72 | |
| Elder Ray (13): | 0.23 | |
| Super Trend (3,10): | 57.64 | |
| Zig ZAG (10): | 58.97 | |
| VORTEX (21): | 1.0400 | |
| Stochastique (14,3,5): | 76.63 | |
| TEMA (21): | 59.10 | |
| Williams %R (14): | -25.23 | |
| Chande Momentum Oscillator (20): | 1.71 | |
| Repulse (5,40,3): | 0.2900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 6.52 |
| MA7: | 58.83 | |
| MA20: | 58.62 | |
| MA50: | 59.69 | |
| MA100: | 66.42 | |
| MAexp7: | 58.97 | |
| MAexp20: | 58.68 | |
| MAexp50: | 58.63 | |
| MAexp100: | 58.79 | |
| Price / MA7: | +0.44% | |
| Price / MA20: | +0.80% | |
| Price / MA50: | -1.01% | |
| Price / MA100: | -11.04% | |
| Price / MAexp7: | +0.20% | |
| Price / MAexp20: | +0.70% | |
| Price / MAexp50: | +0.78% | |
| Price / MAexp100: | +0.51% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The last news published on FORTINET INC. at the time of the generation of this analysis was as follows:
- Kyndryl Launches New Managed SASE Service with Fortinet
- BetterInvesting™ Magazine Update on Fortinet Inc. and Peabody Energy Corp.
- Thinking about trading options or stock in Fortinet, Palo Alto Networks, Tesla, NVIDIA, or Apple?
- Rockwell Automation Partners with Fortinet to Secure Operational Technology Environments
- NEC and Fortinet enter global agreement to deliver end-to-end, high-performance security for 5G networks
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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…
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