By Mill Chart
Last update: Feb 28, 2024
Groth investors are looking for stocks showing high revenue and EPS growth. We will have a look here to see if FORTINET INC (NASDAQ:FTNT) is suited for growth investing, while it is forming a base and may be ready to breakout. Investors should of course do their own research, but we spotted FORTINET INC showing up in our growth with base formation screen, so it may be worth spending some more time on it.
A key component of ChartMill's stock assessment is the Growth Rating, which spans from 0 to 10. This rating evaluates diverse growth factors, such as EPS and revenue growth, considering both past performance and future projections. NASDAQ:FTNT has received a 8 out of 10:
A critical element of ChartMill's stock evaluation is the Health Rating, which spans from 0 to 10. This rating considers multiple health factors, including liquidity and solvency, both in absolute terms and relative to industry peers. NASDAQ:FTNT has received a 6 out of 10:
ChartMill employs its own Profitability Rating system for stock evaluation. This score, ranging from 0 to 10, is derived from an analysis of diverse profitability metrics and margins. In the case of NASDAQ:FTNT, the assigned 9 is noteworthy for profitability:
ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:FTNT scores a 7 out of 10:
FTNT has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 69.59, a Stop Loss order could be placed below this zone.
Every day, new Strong Growth stocks can be found on ChartMill in our Strong Growth screener.
Check the latest full fundamental report of FTNT for a complete fundamental analysis.
For an up to date full technical analysis you can check the technical report of FTNT
This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.
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FORTINET INC (NASDAQ:FTNT) shows strong technicals and a high-quality setup, making it a potential breakout candidate for traders.
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FORTINET INC (NASDAQ:FTNT) is a strong growth stock with solid fundamentals and a promising technical breakout setup, making it a candidate for further analysis.