Fortinet Forecast and Stock Analysis
Technical FTNT stock analysis for Wednesday June 19, 2019.
Fortinet gained 2.68% in the last trading day ( Wednesday, 19th Jun 2019 ), rising from $74.95 to $76.96 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During day the stock fluctuated 3.53% from a day low at $74.50 to a day high of $77.13. The price has risen in 7 of the last 10 days and is up by 5.21% 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, 0.00 million more shares were traded than the day before. In total, 1.15 million shares bought and sold for approximately $88.46 million.
- 30 day high of the FTNT stock price was $82.97 and low was $68.87.
- 90 day high was $96.96 and low was $68.87.
- 52 week high for the Fortinet - $96.96 and low - $61.08.
Fortinet lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -15.98% during the next 3 months and, with 90% probability hold a price between $55.95 and $70.99 at the end of this period.
A buy signal was issued from a pivot bottom point on Monday June 17, 2019, 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Fortinet holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $78.91. On a fall, the stock will find some support from the short-term average at $75.96. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 52 and the stock is currently not being overbought or oversold
Support & Resistance
Fortinet finds support from accumulated volume at $75.98.
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 $2.63 between high and low, or 3.53%. For the last week, the stock has had a daily average volatility of 2.31%.
Our recommended stoploss: $72.91 (-5.27%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 2 days ago.)
2.31 %Average volatility
Very Low Low Medium High Very High
Fortinet holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.
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|FTNT $76.96 ($2.01 2.68%)|
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