FORTINET INC (FTNT) Technical Analysis
NASDAQ:FTNT • US34959E1091
We assign a technical rating of 5 out of 10 to FTNT. In the last year, FTNT was a below average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
- When comparing the yearly performance of all stocks, FTNT is a bad performer in the overall market: 71% of all stocks are doing better.
- The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
- FTNT is one of the better performing stocks in the Software industry, it outperforms 77% of 277 stocks in the same industry.
- FTNT has an average volume of 6811750 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- FTNT is currently trading in the middle 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 slightly.
- In the last month FTNT has a been trading in the 74.31 - 88.60 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 only medium, FTNT does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 85.18. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 82.61, a Stop Loss order could be placed below this zone.
More info and screens
73.65
We found 3 important support areas.
- A support zone ranging from 80.53 to 82.61. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 76.44 to 77.37. This zone is formed by a combination of multiple trend lines in multiple time frames.
- 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.
- A resistance zone ranging from 85.18 to 85.27. This zone is formed by a combination of multiple trend lines 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.
- Resistance @94.90 from a trend line in the weekly 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 | NEUTRAL | NEUTRAL | The long term trend for FTNT is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for FTNT is up. |
| ChartMill Relative Strength | 29 | NEGATIVE | FTNT has a low relative strength, it was outperformed by 71% off all stocks 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) | 57.92 | NEUTRAL | The RSI value for FTNT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.45 | POSITIVE | The MACD value suggests FTNT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 88.74 | OVERBOUGHT | The high Stochastics value suggests FTNT may be overbought. |
| Average True Range in percent/ATR (20) | 3.74 | MEDIUM VOLATILITY | The ATR as a percentage value for FTNT suggests some volalility. |
| Average Directional Index/ADX (14) | 16.06 | NEGATIVE | The low ADX value for FTNT suggests a weak or negative trend. |
FTNT Technicals: Chart, Performance Metrics, Trend & Indicators
84.4
+0.92 (+1.1%)
FORTINET INC / FTNT FAQ
What is the ChartMill technical rating of FORTINET INC (FTNT) stock?
ChartMill assigns a technical rating of 5 / 10 to FTNT.
What is the current trend direction of FORTINET INC (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 57.9249. This indicates that the stock is currently neutral.
What is the short term momentum for FORTINET INC (FTNT) stock?
The short term momentum for FORTINET INC (FTNT) is positive.