FORTINET INC. - 1H - Technical analysis published on 07/29/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Neutral
Technical indicators
83%
0%
17%
My opinion
Bullish above 58.41 USD
My targets
60.59 USD (+2.02%)
64.04 USD (+7.83%)
My analysis
The current short-term bullish trend should quickly fix the basic bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for FORTINET INC. as long as the price remains well above 58.41 USD. The buyers' bullish objective is set at 60.59 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 64.04 USD. If there is any crossing, the next objective would be the resistance located at 69.48 USD.
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
4.5
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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 59.39 USD. The price registered a decrease of -0.02% on the session with the lowest point at 58.53 USD and the highest point at 59.93 USD. The deviation from the price is +1.47% for the low point and -0.90% for the high point.58.53
59.93
59.39
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 1H chart of FORTINET INC. indicates that the overall trend is not clearly defined. The strong bullish signals currently being given by short-term moving averages could allow the overall trend to return to bullish. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
Technical indicators are strongly bullish, suggesting that the price increase should continue.
The Central Indicators scanner found this result concerning these indicators:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 53.94 | 55.19 | 58.41 | 59.39 | 60.59 | 64.04 | 69.48 |
| Change (%) | -9.18% | -7.07% | -1.65% | - | +2.02% | +7.83% | +16.99% |
| Change | -5.45 | -4.20 | -0.98 | - | +1.20 | +4.65 | +10.09 |
| Level | Major | Major | Major | - | Intermediate | Major | Intermediate |
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 | 55.68 | 56.51 | 57.96 | 58.79 | 60.24 | 61.07 | 62.52 |
| Camarilla | 58.77 | 58.98 | 59.19 | 59.40 | 59.61 | 59.82 | 60.03 |
| Woodie | 55.98 | 56.67 | 58.26 | 58.95 | 60.54 | 61.23 | 62.82 |
| Fibonacci | 56.51 | 57.38 | 57.92 | 58.79 | 59.66 | 60.20 | 61.07 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 52.59 | 55.18 | 58.21 | 60.80 | 63.83 | 66.42 | 69.45 |
| Camarilla | 59.69 | 60.20 | 60.72 | 61.23 | 61.75 | 62.26 | 62.78 |
| Woodie | 52.80 | 55.29 | 58.42 | 60.91 | 64.04 | 66.53 | 69.66 |
| Fibonacci | 55.18 | 57.33 | 58.66 | 60.80 | 62.95 | 64.28 | 66.42 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 41.74 | 47.04 | 51.81 | 57.11 | 61.88 | 67.18 | 71.95 |
| Camarilla | 53.81 | 54.73 | 55.66 | 56.58 | 57.50 | 58.43 | 59.35 |
| Woodie | 41.48 | 46.91 | 51.55 | 56.98 | 61.62 | 67.05 | 71.69 |
| Fibonacci | 47.04 | 50.89 | 53.26 | 57.11 | 60.96 | 63.33 | 67.18 |
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): | 55.29 | |
| MACD (12,26,9): | 0.1300 | |
| Directional Movement: | 4.52 | |
| AROON (14): | 71.43 | |
| DEMA (21): | 58.83 | |
| Parabolic SAR (0,02-0,02-0,2): | 58.61 | |
| Elder Ray (13): | 0.34 | |
| Super Trend (3,10): | 57.31 | |
| Zig ZAG (10): | 59.22 | |
| VORTEX (21): | 1.2700 | |
| Stochastique (14,3,5): | 72.16 | |
| TEMA (21): | 59.26 | |
| Williams %R (14): | -25.58 | |
| Chande Momentum Oscillator (20): | 1.55 | |
| Repulse (5,40,3): | 0.4100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 6.26 |
| MA7: | 59.58 | |
| MA20: | 59.65 | |
| MA50: | 58.24 | |
| MA100: | 59.97 | |
| MAexp7: | 59.10 | |
| MAexp20: | 58.78 | |
| MAexp50: | 58.99 | |
| MAexp100: | 59.14 | |
| Price / MA7: | -0.32% | |
| Price / MA20: | -0.44% | |
| Price / MA50: | +1.97% | |
| Price / MA100: | -0.97% | |
| Price / MAexp7: | +0.49% | |
| Price / MAexp20: | +1.04% | |
| Price / MAexp50: | +0.68% | |
| Price / MAexp100: | +0.42% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The last news published on FORTINET INC. at the time of the generation of this analysis was as follows:
- ePlus Enhances Its Managed Security Services Portfolio with Addition of Fortinet Solutions
- Orange Business Services and Fortinet Partner on SASE to Create a Secure, Seamless and Scalable Cloud-native Network, Delivering Improved User Experience
- Fortinet collaborates with AiSP and CSA on cybersecurity initiatives for youths and enterprises in Singapore
- Fortinet Selects Everbridge Critical Event Management (CEM) for Enterprise-wide Global Business Continuity
- CETIN, NEC and Fortinet Join Forces to Modernize Large-scale Network in Four Countries
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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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