FORTINET INC.

- USD (-)

- 15 min delayed data - NASDAQ Stocks

Open:	-
Change:	-
Volume:	-

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

Type:	Stocks
Ticker:	FTNT
ISIN:

FORTINET INC. - Daily - Technical analysis published on 01/17/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

56%

39%

My opinion

Bullish above 56.97 USD

My targets

62.88 USD (+3.95%)

68.42 USD (+13.11%)

My analysis

The bullish trend is currently very strong on FORTINET INC.. As long as the price remains above the support at 56.97 USD, you could try to benefit from the boom. The first bullish objective is located at 62.88 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 68.42 USD as an objective. Crossing it would then enable buyers to target 71.16 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.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

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 ppires. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The FORTINET INC. rating is 60.49 USD. The price is lower by -2.44% since the last closing and was traded between 59.73 USD and 61.62 USD over the period. The price is currently at +1.27% from its lowest and -1.83% from its highest.

59.73

61.62

60.49

Here is a more detailed summary of the historical variations registered by FORTINET INC.:

The Central Records scanner for higher/lower results shows the following items:

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in Daily of this FORTINET INC. chart shows a strongly bullish trend. 85.71% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

An assessment of technical indicators shows a moderate bullish signal.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is under support 3

Type : Neutral

Timeframe : Daily

Parabolic SAR indicator bearish reversal

Type : Bearish

Timeframe : Daily

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Near horizontal resistance

Type : Bearish

Timeframe : Daily

Near support of channel

Type : Bullish

Timeframe : Daily

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	49.52	53.74	56.97	60.49	62.88	68.42	71.16
Change (%)	-18.14%	-11.16%	-5.82%	-	+3.95%	+13.11%	+17.64%
Change	-10.97	-6.75	-3.52	-	+2.39	+7.93	+10.67
Level	Minor	Intermediate	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	59.83	60.42	61.21	61.80	62.59	63.18	63.97
Camarilla	61.62	61.75	61.87	62.00	62.13	62.25	62.38
Woodie	59.93	60.47	61.31	61.85	62.69	63.23	64.07
Fibonacci	60.42	60.95	61.27	61.80	62.33	62.65	63.18

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	54.99	56.72	59.58	61.31	64.17	65.90	68.76
Camarilla	61.18	61.60	62.02	62.44	62.86	63.28	63.70
Woodie	55.56	57.00	60.15	61.59	64.74	66.18	69.33
Fibonacci	56.72	58.47	59.56	61.31	63.06	64.15	65.90

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	43.61	47.13	52.83	56.35	62.05	65.57	71.27
Camarilla	56.00	56.84	57.69	58.53	59.38	60.22	61.07
Woodie	44.70	47.68	53.92	56.90	63.14	66.12	72.36
Fibonacci	47.13	50.65	52.83	56.35	59.87	62.05	65.57

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):	57.51
MACD (12,26,9):	1.6600
Directional Movement:	8.28
AROON (14):	50.00
DEMA (21):	61.43
Parabolic SAR (0,02-0,02-0,2):	63.04
Elder Ray (13):	0.51
Super Trend (3,10):	57.91
Zig ZAG (10):	60.39
VORTEX (21):	1.1100
Stochastique (14,3,5):	76.28
TEMA (21):	62.21
Williams %R (14):	-44.34
Chande Momentum Oscillator (20):	0.93
Repulse (5,40,3):	0.7600
ROCnROLL:	1
TRIX (15,9):	0.4200
Courbe Coppock:	8.78

MA7:	61.29
MA20:	59.38
MA50:	55.16
MA100:	57.18
MAexp7:	60.94
MAexp20:	59.28
MAexp50:	57.54
MAexp100:	58.23
Price / MA7:	-1.31%
Price / MA20:	+1.87%
Price / MA50:	+9.66%
Price / MA100:	+5.79%
Price / MAexp7:	-0.74%
Price / MAexp20:	+2.04%
Price / MAexp50:	+5.13%
Price / MAexp100:	+3.88%

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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