FTV Technical Analysis - FORTIVE CORP

Technical Rating and Analysis

Taking everything into account, FTV scores 2 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. FTV was also a bad performer in the overall market in the last year.

90% of all other stocks performed better in the past year than FTV.

FTV is one of the lesser performing stocks in the Machinery industry. 79% of 129 stocks in the same industry do better.

FTV is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

In the last month FTV has a been trading in the 47.31 - 50.84 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.

FTV has an average volume of 4144540 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.

Considerably lower volume is observed in the last couple of days.

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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

FTV has a bad technical rating, but it does show a decent setup pattern. 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 50.42. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 49.48, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

46.07

78.60

2 important support areas can be observed.

A support zone ranging from 48.33 to 49.48. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A support zone ranging from 46.54 to 46.55. This zone is formed by a combination of multiple trend lines in multiple time frames.

We can see 4 important resistance areas.

A resistance zone ranging from 50.42 to 50.42. This zone is formed by a combination of multiple trend lines in multiple time frames.
A resistance zone ranging from 51.31 to 51.52. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @62.41 from a trend line in the daily time frame.
Resistance @77.82 from a trend line in the weekly time frame.

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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 FTV is down.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for FTV is up.
ChartMill Relative Strength	10.76	NEGATIVE	FTV has a low relative strength, it was outperformed by 89.24% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of FTV is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	MIXED	The current price of FTV is above a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of FTV is below a declining SMA(200).
Relative Strength Index/RSI (14)	56.09	NEUTRAL	The RSI value for FTV is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.19	POSITIVE	The MACD value suggests FTV has a positive trend, although the MACD value is declining.
Stochastics (14,3)	71.29	NEUTRAL	The Stochastics value for FTV is a neutral value.
Average True Range in percent/ATR (20)	2.13	MEDIUM VOLATILITY	The ATR as a percentage value for FTV suggests some volalility.
Average Directional Index/ADX (14)	19.65	NEGATIVE	The low ADX value for FTV suggests a weak or negative trend.