FORTINET INC. - Daily - Technical analysis published on 07/09/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
A split or consolidation has occurred on this instrument. There is no more graph available on this analysis.
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Neutral
Technical indicators
89%
0%
11%
My opinion
Bullish above 79.45 USD
My targets
83.58 USD (+3.76%)
88.30 USD (+9.62%)
My analysis
The strong short-term increase of FORTINET INC. should quickly allow the basic trend to become bullish. As long as the price remains above the support located at 79.45 USD, a purchase could be considered. The first bullish objective is located at 83.58 USD. The bullish momentum would be boosted by a break in this resistance. Buyers could then target the resistance located at 88.30 USD. If there is any crossing, the next objective would be the resistance at 92.29 USD. Caution, if there is a return under 79.45 USD, it should not be forgotten that the basic trend is not yet clear. Caution would then be required.
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The FORTINET INC. price is 80.55 USD. The price has increased by +2.55% since the last closing and was between 78.01 USD and 80.70 USD. This implies that the price is at +3.26% from its lowest and at -0.19% from its highest.78.01
80.70
80.55
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:
Technical
Technical analysis of FORTINET INC. in Daily shows a neutral overall trend. The trend could quickly turn bullish due to the strong bullish signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 16 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
MACD indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Daily
MACD indicator is back over 0
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near resistance of channel
Type : Bearish
Timeframe : Daily
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 69.72 | 75.44 | 79.45 | 80.55 | 83.58 | 88.30 | 92.29 |
Change (%) | -13.45% | -6.34% | -1.37% | - | +3.76% | +9.62% | +14.57% |
Change | -10.83 | -5.11 | -1.10 | - | +3.03 | +7.75 | +11.74 |
Level | Intermediate | Major | Intermediate | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 76.18 | 77.02 | 77.79 | 78.63 | 79.40 | 80.24 | 81.01 |
Camarilla | 78.11 | 78.26 | 78.40 | 78.55 | 78.70 | 78.85 | 78.99 |
Woodie | 76.14 | 77.00 | 77.75 | 78.61 | 79.36 | 80.22 | 80.97 |
Fibonacci | 77.02 | 77.64 | 78.02 | 78.63 | 79.25 | 79.63 | 80.24 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 74.79 | 75.84 | 77.36 | 78.41 | 79.93 | 80.98 | 82.50 |
Camarilla | 78.18 | 78.42 | 78.65 | 78.89 | 79.13 | 79.36 | 79.60 |
Woodie | 75.04 | 75.96 | 77.61 | 78.53 | 80.18 | 81.10 | 82.75 |
Fibonacci | 75.84 | 76.82 | 77.43 | 78.41 | 79.39 | 80.00 | 80.98 |
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): | 62.55 | |
MACD (12,26,9): | 0.2800 | |
Directional Movement: | 10.77 | |
AROON (14): | 92.86 | |
DEMA (21): | 77.36 | |
Parabolic SAR (0,02-0,02-0,2): | 75.04 | |
Elder Ray (13): | 1.60 | |
Super Trend (3,10): | 73.46 | |
Zig ZAG (10): | 80.55 | |
VORTEX (21): | 1.0900 | |
Stochastique (14,3,5): | 89.24 | |
TEMA (21): | 79.03 | |
Williams %R (14): | -2.42 | |
Chande Momentum Oscillator (20): | 3.61 | |
Repulse (5,40,3): | 4.7300 | |
ROCnROLL: | 1 | |
TRIX (15,9): | -0.0900 | |
Courbe Coppock: | 7.18 |
MA7: | 78.42 | |
MA20: | 76.82 | |
MA50: | 79.06 | |
MA100: | 82.77 | |
MAexp7: | 78.58 | |
MAexp20: | 77.46 | |
MAexp50: | 78.84 | |
MAexp100: | 79.88 | |
Price / MA7: | +2.72% | |
Price / MA20: | +4.86% | |
Price / MA50: | +1.88% | |
Price / MA100: | -2.68% | |
Price / MAexp7: | +2.51% | |
Price / MAexp20: | +3.99% | |
Price / MAexp50: | +2.17% | |
Price / MAexp100: | +0.84% |
News
The latest news and videos published on FORTINET INC. at the time of the analysis were as follows:
- Cloud-Native Security Leader Alcide Integrates with Fortinet’s Security Fabric to Provide Hybrid Cloud Network Security Solution
- Factors of Influence in 2019, Key Indicators and Opportunity within New Relic, Clean Harbors, Sage Therapeutics, Accelerate Diagnostics, Fortinet, and Colfax — New Research Emphasizes Economic Growth
- Aislelabs Announces Partnership with Fortinet
- Fortinet Commended by Frost & Sullivan for Protecting the Entire Attack Surface with its FortiSandbox Line of Cybersecurity Solutions
- Fortinet Commended by Frost & Sullivan for Protecting the Entire Attack Surface with its FortiSandbox Line of Cybersecurity Solutions
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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