FORTINET INC (FTNT) Stock Technical Analysis
NASDAQ:FTNT - US34959E1091 - Common Stock
78.77 USD
-0.52 (-0.66%)
78.85 USD
+0.08 (+0.1%)
Overall FTNT gets a technical rating of 0 out of 10. FTNT scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
84% of all other stocks performed better in the past year than FTNT.
FTNT is part of the Software industry. There are 281 other stocks in this industry, of which 65% are performing better than FTNT.
FTNT is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
FTNT has an average volume of 7089090 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month FTNT has a been trading in the 70.12 - 99.40 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
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 support zone below the current price at 75.40, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for FTNT in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
64.52
109.78
2 important support areas can be observed.
- A support zone ranging from 74.39 to 75.40. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @65.17 from a trend line in the weekly time frame.
We can see 4 important resistance areas.
- A resistance zone ranging from 78.77 to 80.87. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @103.27 from a trend line in the weekly time frame.
- A resistance zone ranging from 104.94 to 106.18. 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 | 16.2 | NEGATIVE | FTNT has a low relative strength, it was outperformed by 83.8% 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) | DOWN | NEGATIVE | The current price of FTNT is below a declining 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) | 37.09 | NEUTRAL | The RSI value for FTNT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.69 | POSITIVE | The MACD value suggests FTNT has a positive trend. |
| Stochastics (14,3) | 65.41 | NEUTRAL | The Stochastics value for FTNT is a neutral value. |
| Average True Range in percent/ATR (20) | 4.74 | MEDIUM VOLATILITY | The ATR as a percentage value for FTNT suggests some volalility. |
| Average Directional Index/ADX (14) | 37.82 | POSITIVE | The high ADX value value for FTNT suggests a strong trend. |
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)
78.77
-0.52 (-0.66%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg-0.66%
1 Week-1.56%
2 Weeks-0.43%
1 Month-19.09%
3 Month-22.61%
6 Month-27.07%
12 Month2.69%
2 Year30.83%
3 Year61.78%
5 Year198.36%
10 Year834.62%
15 Year1832.53%
Volatility
ATR(14)2.42
ATR(20)%4.74%
ATR Inc-51.09%
Range Today1.2
ADR(20)2.56
ADR(20)%3.25%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS16.2
Mansfield-2.39
10 Day High81.28
10 Day Low76.86
20 Day High99.4
20 Day Low70.12
52 Week High114.82
52 Week Low70.12
CS1 End75.4
CR1 Start78.77
Volume & EV
DER(3)3.38%
DER(5)1.95%
Volume4.46M
Volume Incr-49.09%
Vol(5)5.70M
Vol(50)7.09M