FTNT - Fortinet

Industry: Application Software Sector: Technology Exchange: NASDAQ

Tue 18'th Sep 2018

PERIOD 2018-06-19 - 2018-09-18
CHANGE 0.29%
PRICE $88.43
VOLUME
Buy
TREND
Buy

MV LONG
Buy

MV SHORT
Sell

PIVOT
Buy

MACD
Buy

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Fortinet Stock Analysis

Technical stock analysis for Tue 18'th Sep 2018

Buy candidate since 2018-08-02 Gain 19.89%
Shorts 4.65% ( 2018-08-31 )
Cash 2 527.0 mill
Loans n/a
Beta 0.62
ROA 3.55

Fortinet gained 0.29% in the last trading day, rising from $88.17 to $88.43 The price has risen in 7 of the last 10 days and is up by 2.73% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.42 million more shares were traded than the day before. In total, 1.83 million shares bought and sold for approximately $161.79 million.

Trend

Fortinet lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 45.5% during the next 3 months and, with 90% probability hold a price between $114.41 and $132.78 at the end of this period.

Click here for today's Top 5 Trending Companies

Signals

Only positive signals in the chart today. Fortinet holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $88.67. On a fall, the stock will find some support from the long-term average at approximately $79.61. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. A buy signal was issued from a pivot bottom point on Monday September 17, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

Access today's Top 5 Golden Star Companies

Relative Strength Index (RSI)

The stock holds a RSI14 at 71 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.

Access full RSI 14 and RSI 21 lists

Support & Resistance

Fortinet finds support from accumulated volume at $87.23.

Support: $87.23 Price: $88.43 Resistance: $88.73

Risk

This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $4.16 between high and low, or 4.88%. For the last week, the stock has had a daily average volatility of 3.03%.

Our recommended stoploss: $83.06 (-6.07%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 71 and this increases the risk substantially. There is a buy signal from pivot bottom found 1 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

Fortinet holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.

Strong Buy Candidate

Click for Top 5 Strong Buy Candidates
FTNT $88.43 $0.26(0.29%)
FTNT is up $0.26 today, but where's it headed in October?
Zacks Investment Research is releasing its prediction for FTNT based on the 1-3 month system that more than doubles the S&P 500.

Click here – the FTNT analysis is free »
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