FORTINET INC.
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 04/03/2024 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 70.30 USD
My targets
73.53 USD (+2.65%)
76.64 USD (+7.00%)
My analysis
The bullish trend is currently very strong on FORTINET INC.. As long as the price remains above the support at 70.30 USD, you could try to benefit from the boom. The first bullish objective is located at 73.53 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 76.64 USD as an objective. Crossing it would then enable buyers to target 80.28 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, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.9

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:
15 min. Daily Weekly

Additional analysis

Quotes

The FORTINET INC. rating is 71.63 USD. The price has increased by +4.04% since the last closing with the lowest point at 68.58 USD and the highest point at 72.02 USD. The deviation from the price is +4.45% for the low point and -0.54% for the high point.

68.58
72.02
71.63

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



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:

Central Records

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly


Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of FORTINET INC. indicates that the overall trend is strongly bullish. 85.71% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:

Central Indicators

Moving Average bullish crossovers : AMA50 & AMA100

Type : Bullish

Timeframe : 1 hour



The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour


CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : 1 hour


Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly



Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Central Patterns

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour



For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:

Central Candlesticks

Bullish harami

Type : Bullish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 67.30 68.59 70.30 71.63 71.66 73.53 80.28
Change (%) -6.04% -4.24% -1.86% - +0.04% +2.65% +12.08%
Change -4.33 -3.04 -1.33 - +0.03 +1.90 +8.65
Level Minor Minor Minor - Minor Major 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
Standard64.9965.8067.3268.1369.6570.4671.98
Camarilla68.2168.4268.6468.8569.0669.2869.49
Woodie65.3665.9867.6968.3170.0270.6472.35
Fibonacci65.8066.6967.2468.1369.0269.5770.46


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard64.3965.2966.8067.7069.2170.1171.62
Camarilla67.6567.8768.0968.3168.5368.7568.97
Woodie64.7065.4467.1167.8569.5270.2671.93
Fibonacci65.2966.2166.7867.7068.6269.1970.11


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard57.8662.0265.1769.3372.4876.6479.79
Camarilla66.3066.9767.6468.3168.9869.6570.32
Woodie57.3561.7764.6669.0871.9776.3979.28
Fibonacci62.0264.8266.5469.3372.1373.8576.64

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): 73.03
MACD (12,26,9): 0.8900
Directional Movement: 32.68
AROON (14): 64.29
DEMA (21): 69.90
Parabolic SAR (0,02-0,02-0,2): 67.51
Elder Ray (13): 2.06
Super Trend (3,10): 69.26
Zig ZAG (10): 71.52
VORTEX (21): 1.2100
Stochastique (14,3,5): 94.71
TEMA (21): 70.72
Williams %R (14): -8.03
Chande Momentum Oscillator (20): 4.03
Repulse (5,40,3): 2.6600
ROCnROLL: 1
TRIX (15,9): 0.0800
Courbe Coppock: 7.68
MA7: 68.47
MA20: 69.13
MA50: 68.44
MA100: 62.15
MAexp7: 70.42
MAexp20: 68.94
MAexp50: 68.31
MAexp100: 68.38
Price / MA7: +4.62%
Price / MA20: +3.62%
Price / MA50: +4.66%
Price / MA100: +15.25%
Price / MAexp7: +1.72%
Price / MAexp20: +3.90%
Price / MAexp50: +4.86%
Price / MAexp100: +4.75%

Quotes : - 15 min delayed data - NASDAQ Stocks

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

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