FTNT Technical Analysis - FORTINET INC

Technical Rating and Analysis

We assign a technical rating of 1 out of 10 to FTNT. 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.

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.

76% of all other stocks performed better in the past year than FTNT.

FTNT is part of the Software industry. There are 280 other stocks in this industry, of which 62% 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.

In the last month FTNT has a been trading in the 75.00 - 84.70 range, which is quite wide. It is currently trading near the high of this range.

FTNT has an average volume of 7857980 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

The technical rating of FTNT is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

64.97

109.78

We found 3 important support areas.

Support @76.41 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.
Support @65.63 from a trend line in the weekly time frame.

When analyzing the resistance we notice 2 important areas.

A resistance zone ranging from 102.37 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.

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What is Support and Resistance

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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	24.08	NEGATIVE	FTNT has a low relative strength, it was outperformed by 75.92% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of FTNT is above the rising 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)	56.1	NEUTRAL	The RSI value for FTNT is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	1.15	POSITIVE	The MACD value suggests FTNT has a positive trend.
Stochastics (14,3)	88.84	OVERBOUGHT	The high Stochastics value suggests FTNT may be overbought.
Average True Range in percent/ATR (20)	2.16	MEDIUM VOLATILITY	The ATR as a percentage value for FTNT suggests some volalility.
Average Directional Index/ADX (14)	27.56	POSITIVE	The high ADX value value for FTNT suggests a strong trend.