Strong Growth Stock Technical Setups. Analyze technical breakout patterns in stocks which are growing strongly while having decent profitability and health.


FORTINET INC

Nasdaq / Information Technology / Software

Technical Rating and Analysis

0

Taking everything into account, FTNT scores 0 out of 10 in our technical rating. FTNT's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
79% of all other stocks performed better in the past year than FTNT.
FTNT is one of the lesser performing stocks in the Software industry. 60% of 277 stocks in the same industry do better.
In the last month FTNT has a been trading in the 57.84 - 65.26 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
FTNT has an average volume of 5194940 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
FTNT is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so FTNT is lagging the market.
Weekly and Daily overview Charts
FTNT Weekly chart
FTNT Daily chart
Setup Rating and Analysis

8

Although the technical rating is bad, FTNT does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 61.44. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 61.25, a Stop Loss order could be placed below this zone.

Support and Resistance Analysis

51.85

69.59

When analyzing the support we can see 3 important areas.

  • A support zone ranging from 61.00 to 61.25. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
  • A support zone ranging from 57.78 to 58.86. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Support @52.37 from a trend line in the weekly time frame.

When analyzing the resistance we notice 3 important areas.

  • A resistance zone ranging from 61.44 to 62.35. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • A resistance zone ranging from 64.57 to 65.07. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
  • Resistance @68.90 from a trend line in the weekly time frame.
Statistics, Performance, Trends, Indicators, Chart- and CandleStick Patterns
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS21.58
Mansfield-1.44
10 Day High62.41
10 Day Low58.4
20 Day High65.26
20 Day Low57.84
52 Week High81.24
52 Week Low44.12
Performance
1 Week-0.13%
2 Weeks5.48%
1 Month-4.41%
3 Month-9.3%
6 Month14.82%
12 Month-9.47%
2 Year4.29%
3 Year40.36%
5 Year323.22%
10 Year1265.15%
15 YearN/A
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Technical Indicators
MACD(12,26,9)0.38
RSI(14)46.19
LBB57.96
UBB62.91