FORTINET INC (FTNT) Stock Technical Analysis
NASDAQ:FTNT - Nasdaq - US34959E1091 - Common Stock - Currency: USD
Overall FTNT gets a technical rating of 8 out of 10. In the last year, FTNT was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.
The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
Looking at the yearly performance, FTNT did better than 90% of all other stocks. On top of that, FTNT also shows a nice and consistent pattern of rising prices.
FTNT is part of the Software industry. There are 282 other stocks in this industry. FTNT outperforms 80% of them.
FTNT is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so FTNT is lagging the market slightly.
In the last month FTNT has a been trading in the 98.60 - 108.77 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 4892120 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. 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 107.36. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 103.93, a Stop Loss order could be placed below this zone.
More info and screens
63.60
109.78
We found 5 important support areas.
- A support zone ranging from 101.93 to 103.93. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 99.06 to 99.15. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 96.80 to 97.42. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @89.11 from a trend line in the daily time frame.
- Support @64.24 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 107.36 to 108.69. This zone is formed by a combination of multiple trend lines 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 | 90.93 | POSITIVE | FTNT has a high relative strength, it outperformed 90.93% 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) | 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) | 53.23 | NEUTRAL | The RSI value for FTNT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.15 | NEGATIVE | The MACD value suggests FTNT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 36.26 | NEUTRAL | The Stochastics value for FTNT is a neutral value. |
| Average True Range in percent/ATR (20) | 3.1 | MEDIUM VOLATILITY | The ATR as a percentage value for FTNT suggests some volalility. |
| Average Directional Index/ADX (14) | 9.92 | 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 |
|---|---|---|---|
| 108.70 | 101.92 | 6.78 (6.24%) | 16.03% |
| An entry @108.70. This is a Buy Stop order right above the resistance zone. | An exit @101.92. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 6.78 points, which is 6.24%. | For a 1.00% total portfolio risk, you can invest 16.03% of your capital in this trade. |
- 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.
104.93
+1.96 (+1.9%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg1.9%
1 Week-2.43%
2 Weeks-0.75%
1 Month4.07%
3 Month9.15%
6 Month11.36%
12 Month79.43%
2 Year35.01%
3 Year75.91%
5 Year279.36%
10 Year998.97%
15 Year2813.1%
Volatility
ATR(14)3.29
ATR(20)%3.1%
ATR Inc6.47%
Range Today2.06
ADR(20)3.16
ADR(20)%3.01%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS90.93
Mansfield0.59
10 Day High108.77
10 Day Low98.7
20 Day High108.77
20 Day Low98.6
52 Week High114.82
52 Week Low54.57
CS1 End103.93
CR1 Start107.36
Volume & EV
DER(3)1.75%
DER(5)0.41%
Volume4.17M
Volume Incr18.57%
Vol(5)4.95M
Vol(50)4.89M