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 01/23/2024 (GMT)

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

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

89%

11%

My opinion

Bullish above 62.88 USD

My targets

64.94 USD (+1.46%)

65.57 USD (+2.44%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on FORTINET INC. as long as the price remains well above 62.88 USD. The buyers' bullish objective is set at 64.94 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 65.57 USD. If there is any crossing, the next objective would be the resistance located at 71.16 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.6

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 64.01 USD. The price registered an increase of +2.15% on the session and was between 63.84 USD and 64.46 USD. This implies that the price is at +0.27% from its lowest and at -0.70% from its highest.

63.84

64.46

64.01

The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.

Opening Gap UP

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 study of the highest / lowest by the Central Records scanner shows the following results:

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of FORTINET INC. indicates that the overall trend is strongly bullish. The signals given by the moving averages are 89.29% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

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

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

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 these results:

Near resistance of channel

Type : Bearish

Timeframe : 1 hour

Near horizontal support

Type : Bullish

Timeframe : 1 hour

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	60.09	62.08	62.88	64.01	71.16	73.53	80.28
Change (%)	-6.12%	-3.02%	-1.77%	-	+11.17%	+14.87%	+25.42%
Change	-3.92	-1.93	-1.13	-	+7.15	+9.52	+16.27
Level	Intermediate	Minor	Major	-	Minor	Major	Major

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	60.37	60.89	61.77	62.29	63.17	63.69	64.57
Camarilla	62.28	62.40	62.53	62.66	62.79	62.92	63.05
Woodie	60.56	60.98	61.96	62.38	63.36	63.78	64.76
Fibonacci	60.89	61.42	61.75	62.29	62.82	63.15	63.69

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	56.96	58.35	59.62	61.01	62.28	63.67	64.94
Camarilla	60.17	60.41	60.66	60.90	61.14	61.39	61.63
Woodie	56.91	58.32	59.57	60.98	62.23	63.64	64.89
Fibonacci	58.35	59.36	59.99	61.01	62.02	62.65	63.67

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):	73.04
MACD (12,26,9):	0.5300
Directional Movement:	30.49
AROON (14):	78.57
DEMA (21):	62.46
Parabolic SAR (0,02-0,02-0,2):	60.69
Elder Ray (13):	1.96
Super Trend (3,10):	62.07
Zig ZAG (10):	64.25
VORTEX (21):	1.1200
Stochastique (14,3,5):	96.04
TEMA (21):	62.91
Williams %R (14):	-4.79
Chande Momentum Oscillator (20):	3.88
Repulse (5,40,3):	0.4700
ROCnROLL:	1
TRIX (15,9):	0.0500
Courbe Coppock:	5.35

MA7:	62.01
MA20:	60.36
MA50:	56.14
MA100:	57.31
MAexp7:	63.04
MAexp20:	61.87
MAexp50:	61.32
MAexp100:	60.47
Price / MA7:	+3.23%
Price / MA20:	+6.05%
Price / MA50:	+14.02%
Price / MA100:	+11.69%
Price / MAexp7:	+1.54%
Price / MAexp20:	+3.46%
Price / MAexp50:	+4.39%
Price / MAexp100:	+5.85%

Quotes : - 15 min delayed data - NASDAQ Stocks

News

Don't forget to follow the news on FORTINET INC.. At the time of publication of this analysis, the latest news was as follows:

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

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