FORTINET INC (FTNT) Stock Technical Analysis
NASDAQ:FTNT - Nasdaq - US34959E1091 - Common Stock - Currency: USD
We assign a technical rating of 7 out of 10 to FTNT. FTNT was one of the better performers in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
Looking at the yearly performance, FTNT did better than 91% of all other stocks. On top of that, FTNT also shows a nice and consistent pattern of rising prices.
FTNT is one of the better performing stocks in the Software industry, it outperforms 83% of 284 stocks in the same industry.
FTNT is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so FTNT is performing more or less in line with the market.
In the last month FTNT has a been trading in the 99.85 - 106.06 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 5368030 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Besides having an excellent technical rating, FTNT also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 100.82, a Stop Loss order could be placed below this zone.
More info and screens
62.84
106.58
When analyzing the support we can see 4 important areas.
- A support zone ranging from 100.62 to 100.82. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @92.77 from a trend line in the weekly time frame.
- Support @88.21 from a trend line in the daily time frame.
- Support @63.47 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 101.03 to 103.02. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @105.52 from a trend 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 | UP | POSITIVE | The long term trend for FTNT is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for FTNT is neutral. |
| ChartMill Relative Strength | 91.93 | POSITIVE | FTNT has a high relative strength, it outperformed 91.93% 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 | POSITIVE | The current price of FTNT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of FTNT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 45.57 | NEUTRAL | The RSI value for FTNT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.37 | NEGATIVE | The MACD value suggests FTNT has a negative trend. |
| Stochastics (14,3) | 26.62 | NEUTRAL | The Stochastics value for FTNT is a neutral value. |
| Average True Range in percent/ATR (20) | 2.23 | MEDIUM VOLATILITY | The ATR as a percentage value for FTNT suggests some volalility. |
| Average Directional Index/ADX (14) | 8.85 | NEGATIVE | The low ADX value for FTNT suggests a weak or negative 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 103.03 | 100.61 | 2.42 (2.35%) | 25.00% |
| An entry @103.03. This is a Buy Stop order right above the resistance zone. | An exit @100.61. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.42 points, which is 2.35%. | For a 0.59% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of FTNT. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
100.83
-0.83 (-0.82%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg-0.82%
1 Week-3.92%
2 Weeks-0.93%
1 Month-1.69%
3 Month4.76%
6 Month2.94%
12 Month65.89%
2 Year33.39%
3 Year78.21%
5 Year267.27%
10 Year1119.82%
15 Year2966.61%
Volatility
ATR(14)2.38
ATR(20)%2.23%
ATR Inc-7.35%
Range Today3.03
ADR(20)2.15
ADR(20)%2.14%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS91.93
Mansfield0.99
10 Day High105.2
10 Day Low99.85
20 Day High106.06
20 Day Low99.85
52 Week High114.82
52 Week Low54.57
CS1 End100.82
CR1 Start101.03
Volume & EV
DER(3)1.55%
DER(5)0.51%
Volume3.43M
Volume Incr-26.74%
Vol(5)3.66M
Vol(50)5.37M