RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of FTNT
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Fortinet stock price up 1.55% on Thursday
(Updated on Mar 28, 2024)

Sell candidate since Mar 27, 2024 Gain 1.55% PDF

The Fortinet stock price gained 1.55% on the last trading day (Thursday, 28th Mar 2024), rising from $67.27 to $68.31. During the last trading day the stock fluctuated 2.37% from a day low at $67.01 to a day high of $68.60. The price has been going up and down for this period, and there has been a 0.4% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 341 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $259.81 million.

The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $67.44 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.15% during the next 3 months and, with a 90% probability hold a price between $78.33 and $87.87 at the end of this 3-month period.

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FTNT Signals & Forecast

There are mixed signals in the stock today. The Fortinet stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $69.08. On a fall, the stock will find some support from the short-term average at $67.95. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -6.51%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Fortinet stock

Fortinet finds support from accumulated volume at $67.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.58 between high and low, or 2.37%. For the last week, the stock has had daily average volatility of 2.11%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FTNT) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Fortinet to open at $67.97, and during the day (based on 14 day Average True Range), to move between $66.58 and $70.04, which gives a possible trading interval of +/-$1.73 (+/-2.53%) up or down from last closing price. If Fortinet takes out the full calculated possible swing range there will be an estimated 5.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $67.48 (1.22%) than the resistance at $70.03 (2.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Fortinet stock A Buy?

Fortinet holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.834 Sell Candidate Unchanged

Predicted Opening Price for Fortinet of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$67.97 ( 0.495%) $68.31

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for FTNT

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 69.56 1.83 %
R2 68.95 0.94 %
R1 68.58 0.391 %
Current price: 68.31
Support S1 67.37 -1.38 %
S2 66.99 -1.93 %
S3 66.39 -2.82 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 70.44 3.12 %
R2 70.26 2.85 %
R1 70.03 2.52 %
Current price 68.31
Support S1 67.48 -1.22%
S2 66.45 -2.72%
S3 65.34 -4.35%

FAQ

What is the symbol for Fortinet Stock and on which exchange is it traded?
The symbol for Fortinet is FTNT and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Fortinet Stock?
Fortinet holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

How to buy Fortinet Stock?
Fortinet Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Fortinet Stock.

What's the current price of Fortinet Stock?
As of the end of day on the 2024-03-28, the price of an Fortinet (FTNT) share was $68.31.

What is the 52-week high and low for Fortinet Stock?
The 52-week high for Fortinet Stock is $81.23 and the 52-week low is $44.15.

What is the market capitalization of Fortinet Stock?
As of the 2024-03-28, the market capitalization of Fortinet is 52.123B.

When is the next earnings date for Fortinet?
The upcoming earnings date for Fortinet is May 02, 2024.
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About Fortinet

Fortinet Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration. The company also provides ... FTNT Profile

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