FORTINET INC.

- USD (-)

- 15 min delayed data - NASDAQ Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
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High / Low range:	-

Type:	Stocks
Ticker:	FTNT
ISIN:

FORTINET INC. - 1H - Technical analysis published on 04/09/2024 (GMT)

Londinia

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

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Slightly bearish

Technical indicators

22%

56%

22%

My opinion

Bearish under 69.21 USD

My targets

67.31 USD (-1.49%)

66.46 USD (-2.74%)

My analysis

The short-term decline is currently reinforcing the basic trend, which is only slightly bearish. It would be possible for traders to only trade short positions (for sale) on FORTINET INC. as long as the price remains well below 69.21 USD. The next bearish objective for sellers is set at 67.31 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 66.46 USD. In case of crossing, the next objective would be the support located at 62.88 USD.

In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.

Force

3.9

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

The FORTINET INC. rating is 68.33 USD. On the day, this instrument lost -0.09% and was between 68.04 USD and 69.14 USD. This implies that the price is at +0.43% from its lowest and at -1.17% from its highest.

68.04

69.14

68.33

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

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

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 slightly bearish. Only 60.71% of the signals given by moving averages are bearish. This slightly bearish trend is reinforced by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:

Moving Average bearish crossovers : MA20 & MA50

Type : Bearish

Timeframe : 1 hour

On the 18 technical indicators analysed, 4 are bullish, 4 are neutral and 10 are bearish. Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner found no further results concerning independent 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:

Near support of channel

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:

Bullish engulfing lines

Type : Bullish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	66.46	67.31	68.16	68.33	69.21	70.87	71.83
Change (%)	-2.74%	-1.49%	-0.25%	-	+1.29%	+3.72%	+5.12%
Change	-1.87	-1.02	-0.17	-	+0.88	+2.54	+3.50
Level	Intermediate	Minor	Intermediate	-	Intermediate	Minor	Intermediate

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	65.66	66.94	67.67	68.95	69.68	70.96	71.69
Camarilla	67.84	68.02	68.21	68.39	68.57	68.76	68.94
Woodie	65.38	66.80	67.39	68.81	69.40	70.82	71.41
Fibonacci	66.94	67.71	68.19	68.95	69.72	70.20	70.96

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	60.10	63.35	67.13	70.38	74.16	77.41	81.19
Camarilla	68.98	69.62	70.27	70.91	71.55	72.20	72.84
Woodie	60.37	63.48	67.40	70.51	74.43	77.54	81.46
Fibonacci	63.35	66.04	67.70	70.38	73.07	74.73	77.41

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	57.86	62.02	65.17	69.33	72.48	76.64	79.79
Camarilla	66.30	66.97	67.64	68.31	68.98	69.65	70.32
Woodie	57.35	61.77	64.66	69.08	71.97	76.39	79.28
Fibonacci	62.02	64.82	66.54	69.33	72.13	73.85	76.64

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	42.06
MACD (12,26,9):	-0.4700
Directional Movement:	-4.37
AROON (14):	-64.29
DEMA (21):	68.58
Parabolic SAR (0,02-0,02-0,2):	68.89
Elder Ray (13):	-0.39
Super Trend (3,10):	70.08
Zig ZAG (10):	68.52
VORTEX (21):	0.8500
Stochastique (14,3,5):	9.39
TEMA (21):	67.97
Williams %R (14):	-86.32
Chande Momentum Oscillator (20):	-0.45
Repulse (5,40,3):	0.2100
ROCnROLL:	2
TRIX (15,9):	-0.0700
Courbe Coppock:	6.08

MA7:	69.29
MA20:	68.61
MA50:	68.74
MA100:	62.91
MAexp7:	68.49
MAexp20:	69.08
MAexp50:	69.21
MAexp100:	69.00
Price / MA7:	-1.39%
Price / MA20:	-0.41%
Price / MA50:	-0.60%
Price / MA100:	+8.62%
Price / MAexp7:	-0.23%
Price / MAexp20:	-1.09%
Price / MAexp50:	-1.27%
Price / MAexp100:	-0.97%

Quotes : - 15 min delayed data - NASDAQ Stocks

News

The last news published on FORTINET INC. at the time of the generation of this analysis was as follows:

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

About author

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