FORTINET INC. - 1H - Technical analysis published on 07/16/2024 (GMT)
- 112
- 0
- Timeframe : 1H
- - Analysis generated on
- Status : NEUTRAL
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Slightly bearish
Technical indicators
39%
22%
39%
My opinion
Neutral between 59.56 USD and 60.94 USD
My targets
-
My analysis
The short-term increase on FORTINET INC. remains moderate but could challenge the slightly bearish basic trend. It is difficult to advise a trading direction under these conditions. The first resistance is located at 60.94 USD. The first support is located at 59.56 USD. You could remain on the sidelines waiting for a more pronounced price movement on this instrument. A new analysis could then be carried out to provide clearer signals.
In the very short term, the neutral opinion of this analysis is confirmed by technical indicators which are also neutral.
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 59.87 USD. The price registered a decrease of -0.05% on the session and was traded between 59.62 USD and 60.27 USD over the period. The price is currently at +0.42% from its lowest and -0.66% from its highest.59.62
60.27
59.87
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:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of FORTINET INC. in 1H shows an overall slightly bearish trend. 46.43% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently being given by short-term moving averages indicate that this overall trend could be reversed. The Central Indicators market scanner is currently detecting several bearish and bullish signals that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 58.16 | 58.77 | 59.56 | 59.87 | 60.15 | 60.94 | 61.48 |
| Change (%) | -2.86% | -1.84% | -0.52% | - | +0.47% | +1.79% | +2.69% |
| Change | -1.71 | -1.10 | -0.31 | - | +0.28 | +1.07 | +1.61 |
| Level | Intermediate | Intermediate | Minor | - | Minor | Major | Intermediate |
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 | 57.74 | 58.50 | 59.20 | 59.96 | 60.66 | 61.42 | 62.12 |
| Camarilla | 59.50 | 59.63 | 59.77 | 59.90 | 60.03 | 60.17 | 60.30 |
| Woodie | 57.71 | 58.49 | 59.17 | 59.95 | 60.63 | 61.41 | 62.09 |
| Fibonacci | 58.50 | 59.06 | 59.40 | 59.96 | 60.52 | 60.86 | 61.42 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 56.26 | 57.52 | 58.53 | 59.79 | 60.80 | 62.06 | 63.07 |
| Camarilla | 58.93 | 59.13 | 59.34 | 59.55 | 59.76 | 59.97 | 60.17 |
| Woodie | 56.15 | 57.46 | 58.42 | 59.73 | 60.69 | 62.00 | 62.96 |
| Fibonacci | 57.52 | 58.38 | 58.92 | 59.79 | 60.65 | 61.19 | 62.06 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 53.21 | 55.10 | 57.69 | 59.58 | 62.17 | 64.06 | 66.65 |
| Camarilla | 59.04 | 59.45 | 59.86 | 60.27 | 60.68 | 61.09 | 61.50 |
| Woodie | 53.55 | 55.28 | 58.03 | 59.76 | 62.51 | 64.24 | 66.99 |
| Fibonacci | 55.10 | 56.82 | 57.87 | 59.58 | 61.30 | 62.35 | 64.06 |
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): | 49.20 | |
| MACD (12,26,9): | 0.0700 | |
| Directional Movement: | 1.24 | |
| AROON (14): | 35.72 | |
| DEMA (21): | 59.83 | |
| Parabolic SAR (0,02-0,02-0,2): | 59.61 | |
| Elder Ray (13): | -0.14 | |
| Super Trend (3,10): | 58.97 | |
| Zig ZAG (10): | 59.79 | |
| VORTEX (21): | 1.0700 | |
| Stochastique (14,3,5): | 55.91 | |
| TEMA (21): | 60.01 | |
| Williams %R (14): | -49.21 | |
| Chande Momentum Oscillator (20): | 0.00 | |
| Repulse (5,40,3): | -0.2600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 2.81 |
| MA7: | 59.73 | |
| MA20: | 59.63 | |
| MA50: | 59.82 | |
| MA100: | 63.75 | |
| MAexp7: | 59.91 | |
| MAexp20: | 59.77 | |
| MAexp50: | 59.80 | |
| MAexp100: | 59.80 | |
| Price / MA7: | +0.23% | |
| Price / MA20: | +0.40% | |
| Price / MA50: | +0.08% | |
| Price / MA100: | -6.09% | |
| Price / MAexp7: | -0.07% | |
| Price / MAexp20: | +0.17% | |
| Price / MAexp50: | +0.12% | |
| Price / MAexp100: | +0.12% |
Quotes :
-
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:
- DGR Systems Achieves Top Fortinet Service Program Designation - EPSP
- Thinking about trading options or stock in Snowflake, Palantir Technologies, Rocket Pharmaceuticals, Fortinet, or Marathon Digital?
- Thinking about buying stock in Panbela Therapeutics, Fortinet, Palo Alto Networks, First Wave BioPharma, or Sphere 3D?
- Thinking about trading options or stock in Ford Motor, Palantir Technologies, Crispr Therapeutics, NVIDIA, or Fortinet?
- Kyndryl Launches New Managed SASE Service with Fortinet
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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