FORTINET INC (FTNT) Stock Technical Analysis
USA - NASDAQ:FTNT - US34959E1091 - Common Stock
We assign a technical rating of 1 out of 10 to FTNT. 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.
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. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
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2 important support areas can be observed.
- Support @79.11 from a trend line in the weekly time frame.
- A support zone ranging from 74.39 to 74.39. This zone is formed by a combination of multiple trend lines in multiple time frames.
3 important resistance areas can be observed.
- A resistance zone ranging from 83.23 to 87.52. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 99.98 to 101.38. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @108.69 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for FTNT is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for FTNT is down. |
| ChartMill Relative Strength | 28.62 | NEGATIVE | FTNT has a low relative strength, it was outperformed by 71.38% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of FTNT is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of FTNT is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of FTNT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 44.14 | NEUTRAL | The RSI value for FTNT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.45 | NEGATIVE | The MACD value suggests FTNT has a negative trend. |
| Stochastics (14,3) | 50.46 | NEUTRAL | The Stochastics value for FTNT is a neutral value. |
| Average True Range in percent/ATR (20) | 3.07 | MEDIUM VOLATILITY | The ATR as a percentage value for FTNT suggests some volalility. |
| Average Directional Index/ADX (14) | 17.41 | NEGATIVE | The low ADX value for FTNT suggests a weak or negative trend. |
82.28
+0.49 (+0.6%)
FORTINET INC / FTNT FAQ
What is the ChartMill technical rating of FORTINET INC (FTNT) stock?
ChartMill assigns a technical rating of 1 / 10 to FTNT.
What is the trend direction for FTNT stock?
The current trend direction for FORTINET INC (FTNT) is Bearish.
What is the RSI signal for FORTINET INC (FTNT) stock?
FORTINET INC (FTNT) has an RSI value of 44.1421. This indicates that the stock is currently neutral.
Can you provide the MACD signal for FORTINET INC?
The MACD indicator for FORTINET INC (FTNT) has a value of -0.447232, indicating a bearish trend.
What is the buy/sell signal for FORTINET INC (FTNT) stock?
The buy/sell signal for FORTINET INC (FTNT) is sell as both the short term and long term trends are negative.