FORTINET INC. - 1H - Technical analysis published on 11/08/2023 (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:
Neutral
Underlying:
Strongly bearish
Technical indicators
61%
11%
28%
My opinion
Bearish under 50.93 USD
My targets
49.75 USD (-0.86%)
47.66 USD (-5.02%)
My analysis
The basic trend is very bearish on FORTINET INC. but buyers need to catch their breath in the short term. In a case like this, you could favour trades in the direction of the trend on FORTINET INC.. As long as you stay below the resistance 50.93 USD, sellers' retain the upper hand. A break in the support at 49.75 USD would be a signal that the basic trend will reverse. Sellers would then use the next support located at 47.66 USD as an objective. Crossing it would then enable sellers to target 45.93 USD. If the price were to depress the resistance 50.93 USD in the short term, this would be a sign of possible consolidation in the short term, but against the trend trading would then perhaps be more risky. On the other hand, we could expect signals of a reversal of the trend.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
2.7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
FORTINET INC. rating 50.18 USD. The price has increased by +1.33% since the last closing and was between 49.44 USD and 50.94 USD. This implies that the price is at +1.50% from its lowest and at -1.49% from its highest.49.44
50.94
50.18
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by FORTINET INC.:
Abnormal volumes
Timeframe : 5 days
Technical
A technical analysis in 1H of this FORTINET INC. chart shows a sharp bearish trend. 82.14% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the global trend is slowing down. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators shows a moderate bullish signal.
No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 44.12 | 45.93 | 47.66 | 50.18 | 56.90 | 59.71 | 62.88 |
| Change (%) | -12.08% | -8.47% | -5.02% | - | +13.39% | +18.99% | +25.31% |
| Change | -6.06 | -4.25 | -2.52 | - | +6.72 | +9.53 | +12.70 |
| Level | Major | Major | Minor | - | Major | Intermediate | Intermediate |
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 | 45.33 | 46.49 | 48.01 | 49.17 | 50.69 | 51.85 | 53.37 |
| Camarilla | 48.78 | 49.03 | 49.27 | 49.52 | 49.77 | 50.01 | 50.26 |
| Woodie | 45.50 | 46.58 | 48.18 | 49.26 | 50.86 | 51.94 | 53.54 |
| Fibonacci | 46.49 | 47.52 | 48.15 | 49.17 | 50.20 | 50.83 | 51.85 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 29.60 | 36.86 | 43.67 | 50.93 | 57.74 | 65.00 | 71.81 |
| Camarilla | 46.61 | 47.90 | 49.19 | 50.48 | 51.77 | 53.06 | 54.35 |
| Woodie | 29.38 | 36.75 | 43.45 | 50.82 | 57.52 | 64.89 | 71.59 |
| Fibonacci | 36.86 | 42.24 | 45.56 | 50.93 | 56.31 | 59.63 | 65.00 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 49.75 | 52.60 | 54.89 | 57.74 | 60.03 | 62.88 | 65.17 |
| Camarilla | 55.76 | 56.23 | 56.70 | 57.17 | 57.64 | 58.11 | 58.58 |
| Woodie | 49.46 | 52.46 | 54.60 | 57.60 | 59.74 | 62.74 | 64.88 |
| Fibonacci | 52.60 | 54.57 | 55.78 | 57.74 | 59.71 | 60.92 | 62.88 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 44.48 | |
| MACD (12,26,9): | -0.7900 | |
| Directional Movement: | -14.04 | |
| AROON (14): | 57.14 | |
| DEMA (21): | 49.09 | |
| Parabolic SAR (0,02-0,02-0,2): | 52.79 | |
| Elder Ray (13): | 0.16 | |
| Super Trend (3,10): | 51.73 | |
| Zig ZAG (10): | 50.19 | |
| VORTEX (21): | 1.1000 | |
| Stochastique (14,3,5): | 79.67 | |
| TEMA (21): | 49.50 | |
| Williams %R (14): | -23.17 | |
| Chande Momentum Oscillator (20): | 0.68 | |
| Repulse (5,40,3): | -0.2400 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.3400 | |
| Courbe Coppock: | 1.81 |
| MA7: | 53.19 | |
| MA20: | 55.78 | |
| MA50: | 58.48 | |
| MA100: | 64.12 | |
| MAexp7: | 50.04 | |
| MAexp20: | 50.38 | |
| MAexp50: | 52.33 | |
| MAexp100: | 54.19 | |
| Price / MA7: | -5.66% | |
| Price / MA20: | -10.04% | |
| Price / MA50: | -14.19% | |
| Price / MA100: | -21.74% | |
| Price / MAexp7: | +0.28% | |
| Price / MAexp20: | -0.40% | |
| Price / MAexp50: | -4.11% | |
| Price / MAexp100: | -7.40% |
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:
- 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.
- 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
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…
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