FORTINET INC (FTNT) Technical Analysis
NASDAQ:FTNT • US34959E1091
Current stock price
FTNT Technical Rating and Analysis
Overall FTNT gets a technical rating of 3 out of 10. FTNT has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
- The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
- FTNT is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so FTNT is lagging the market.
- FTNT is part of the Software industry. There are 275 other stocks in this industry. FTNT outperforms 75% of them.
- FTNT has an average volume of 6824810 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the performance of all stocks over the past year, FTNT turns out to be only a medium performer in the overall market: it outperformed 43% of all stocks.
- In the last month FTNT has a been trading in the 76.42 - 86.42 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
FTNT Weekly and Daily overview Charts
FTNT Setup Rating and Analysis
FTNT has a bad technical rating, but it does show a decent setup pattern. 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 83.19. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 82.16, a Stop Loss order could be placed below this zone.
More info and screens
FTNT Support and Resistance Analysis
73.65
We found 4 important support areas.
- A support zone ranging from 80.61 to 82.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @78.11 from a trend line in the weekly time frame.
- Support @76.44 from a horizontal line in the daily 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.
When analyzing the resistance we notice 3 important areas.
- Resistance @83.19 from a trend line in the daily time frame.
- Strong resistance @85.27 from a horizontal line in the daily time frame.
- A resistance zone ranging from 86.92 to 87.82. This zone is formed by a combination of multiple trend lines in multiple time frames.
FTNT Technical Indicator Signal Analysis
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 | NEUTRAL | NEUTRAL | The short term trend for FTNT is neutral. |
| ChartMill Relative Strength | 43.21 | NEUTRAL | FTNT is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of FTNT is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of FTNT is above 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) | 52.96 | NEUTRAL | The RSI value for FTNT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests FTNT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 53.82 | NEUTRAL | The Stochastics value for FTNT is a neutral value. |
| Average True Range in percent/ATR (20) | 3.43 | MEDIUM VOLATILITY | The ATR as a percentage value for FTNT suggests some volalility. |
| Average Directional Index/ADX (14) | 13.7 | NEGATIVE | The low ADX value for FTNT suggests a weak or negative trend. |
FTNT Chart- and CandleStick Pattern Analysis
FTNT Technicals: Chart, Performance Metrics, Trend & Indicators
82.53
+1.38 (+1.7%)
FORTINET INC / FTNT TA FAQ
What is the ChartMill technical rating of FORTINET INC (FTNT) stock?
ChartMill assigns a technical rating of 3 / 10 to FTNT.
What is the current trend direction of FORTINET INC (FTNT) stock?
The current trend direction for FORTINET INC (FTNT) is Bearish.
Can you provide the RSI signal for FORTINET INC?
FORTINET INC (FTNT) has an RSI value of 52.9574. 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 -0.0792084, indicating a bearish trend.
What is the short term momentum for FTNT stock?
The short term momentum for FORTINET INC (FTNT) is neutral.