FORTINET INC.

- USD (-)

- 15 min delayed data - NASDAQ Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	FTNT
ISIN:

FORTINET INC. - 1H - Technical analysis published on 12/12/2023 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

83%

17%

My opinion

Bullish above 53.94 USD

My targets

56.90 USD (+2.49%)

58.19 USD (+4.81%)

My analysis

The bullish trend is currently very strong on FORTINET INC.. As long as the price remains above the support at 53.94 USD, you could try to benefit from the boom. The first bullish objective is located at 56.90 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 58.19 USD as an objective. Crossing it would then enable buyers to target 60.50 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

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

8.4

Comment on the analysis

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 55.52 USD. The price has increased by +3.51% since the last closing and was between 53.40 USD and 55.64 USD. This implies that the price is at +3.97% from its lowest and at -0.22% from its highest.

53.40

55.64

55.52

The Central Gaps scanner detects a bullish gap which is a sign that buyers have taken the lead in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows an item:

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of FORTINET INC. in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 89.29% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 80

Type : Neutral

Timeframe : 1 hour

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

CCI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : 1 hour

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	49.52	51.74	53.94	55.52	56.90	58.19	60.50
Change (%)	-10.81%	-6.81%	-2.85%	-	+2.49%	+4.81%	+8.97%
Change	-6.00	-3.78	-1.58	-	+1.38	+2.67	+4.98
Level	Intermediate	Major	Major	-	Major	Minor	Minor

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	51.11	51.65	52.65	53.19	54.19	54.73	55.73
Camarilla	53.22	53.36	53.50	53.64	53.78	53.92	54.06
Woodie	51.33	51.77	52.87	53.31	54.41	54.85	55.95
Fibonacci	51.65	52.24	52.61	53.19	53.78	54.15	54.73

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	48.54	49.59	50.88	51.93	53.22	54.27	55.56
Camarilla	51.52	51.73	51.95	52.16	52.38	52.59	52.80
Woodie	48.65	49.65	50.99	51.99	53.33	54.33	55.67
Fibonacci	49.59	50.49	51.04	51.93	52.83	53.38	54.27

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	30.99	37.55	45.06	51.62	59.13	65.69	73.20
Camarilla	48.69	49.98	51.27	52.56	53.85	55.14	56.43
Woodie	31.46	37.79	45.53	51.86	59.60	65.93	73.67
Fibonacci	37.55	42.93	46.25	51.62	57.00	60.32	65.69

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):	82.30
MACD (12,26,9):	0.8100
Directional Movement:	37.16
AROON (14):	100.00
DEMA (21):	54.43
Parabolic SAR (0,02-0,02-0,2):	53.83
Elder Ray (13):	1.48
Super Trend (3,10):	53.98
Zig ZAG (10):	55.61
VORTEX (21):	1.4700
Stochastique (14,3,5):	96.00
TEMA (21):	55.12
Williams %R (14):	-1.19
Chande Momentum Oscillator (20):	3.34
Repulse (5,40,3):	2.2800
ROCnROLL:	1
TRIX (15,9):	0.1300
Courbe Coppock:	10.93

MA7:	52.75
MA20:	52.47
MA50:	54.55
MA100:	58.73
MAexp7:	54.62
MAexp20:	53.52
MAexp50:	52.86
MAexp100:	52.68
Price / MA7:	+5.25%
Price / MA20:	+5.81%
Price / MA50:	+1.78%
Price / MA100:	-5.47%
Price / MAexp7:	+1.65%
Price / MAexp20:	+3.74%
Price / MAexp50:	+5.03%
Price / MAexp100:	+5.39%

Quotes : - 15 min delayed data - NASDAQ Stocks

News

The latest news and videos published on FORTINET INC. at the time of the analysis were as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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