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 12/04/2024 (GMT)

Londinia

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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

39%

11%

50%

My opinion

Bullish above 93.87 USD

My targets

97.18 USD (+1.98%)

99.15 USD (+4.05%)

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 93.87 USD. The buyers' bullish objective is set at 97.18 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 99.15 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

5.9

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 95.29 USD. The price registered a decrease of -0.03% on the session and was between 93.38 USD and 95.79 USD. This implies that the price is at +2.05% from its lowest and at -0.52% from its highest.

93.38

95.79

95.29

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

Bearish opening

Type : Bearish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by FORTINET INC.:

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

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of FORTINET INC. in 1H shows a strongly overall bullish trend. 82.14% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:

Bullish trend reversal : adaptative moving average 20

Type : Bullish

Timeframe : 1 hour

Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : 1 hour

In fact, only 7 technical indicators out of 18 studied are currently positioned bullish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Williams %R indicator is back over -50

Type : Bullish

Timeframe : 1 hour

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Near support of channel

Type : Bullish

Timeframe : 1 hour

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	80.28	90.79	93.87	95.29	97.18	99.15
Change (%)	-15.75%	-4.72%	-1.49%	-	+1.98%	+4.05%
Change	-15.01	-4.50	-1.42	-	+1.89	+3.86
Level	Major	Major	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	92.19	93.56	94.44	95.81	96.69	98.06	98.94
Camarilla	94.70	94.91	95.11	95.32	95.53	95.73	95.94
Woodie	91.95	93.44	94.20	95.69	96.45	97.94	98.70
Fibonacci	93.56	94.42	94.95	95.81	96.67	97.20	98.06

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	88.78	90.73	92.89	94.84	97.00	98.95	101.11
Camarilla	93.92	94.30	94.67	95.05	95.43	95.80	96.18
Woodie	88.89	90.78	93.00	94.89	97.11	99.00	101.22
Fibonacci	90.73	92.30	93.27	94.84	96.41	97.38	98.95

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	58.78	68.25	81.65	91.12	104.52	113.99	127.39
Camarilla	88.76	90.86	92.95	95.05	97.15	99.24	101.34
Woodie	60.75	69.23	83.62	92.10	106.49	114.97	129.36
Fibonacci	68.25	76.99	82.38	91.12	99.86	105.25	113.99

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):	52.29
MACD (12,26,9):	0.1200
Directional Movement:	0.26
AROON (14):	-50.00
DEMA (21):	95.36
Parabolic SAR (0,02-0,02-0,2):	96.75
Elder Ray (13):	0.02
Super Trend (3,10):	93.77
Zig ZAG (10):	95.29
VORTEX (21):	1.0200
Stochastique (14,3,5):	47.19
TEMA (21):	95.18
Williams %R (14):	-49.74
Chande Momentum Oscillator (20):	-0.07
Repulse (5,40,3):	0.3300
ROCnROLL:	1
TRIX (15,9):	0.0300
Courbe Coppock:	0.10

MA7:	94.58
MA20:	92.43
MA50:	84.71
MA100:	76.80
MAexp7:	95.16
MAexp20:	95.14
MAexp50:	94.62
MAexp100:	93.20
Price / MA7:	+0.75%
Price / MA20:	+3.09%
Price / MA50:	+12.49%
Price / MA100:	+24.08%
Price / MAexp7:	+0.14%
Price / MAexp20:	+0.16%
Price / MAexp50:	+0.71%
Price / MAexp100:	+2.24%

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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