Weaker Buy Today FTNT ranks #690 as BUY CANDIDATE. Stronger Buy
Today FTNT ranks #690 as BUY CANDIDATE.

FTNT stock Fortinet

FTNT stock
Fortinet

February 14, 2019
Change 0.93%
Chart period: 2018-11-15 - 2019-02-14
VOLUME
Sell
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy

Will FTNT stock price go up or down on Mon, 18 Feb 2019?

Fortinet Forecast and Stock Analysis

Technical FTNT stock analysis for February 14, 2019.

Buy candidate since 2019-02-08 Gain 2.68%
Shorts n/a
Cash n/a
Loans n/a
Beta 0.89
ROA 12.68

Fortinet gained 0.93% in the last trading day, rising from $82.42 to $83.19 The price has risen in 7 of the last 10 days and is up by 8.65% over the past 2 weeks. Volume fell in the last day by -0.11 million shares, and in total, 1.16 million shares bought and sold for approximately $96.35 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

Close price at the end of the last trading day (Thursday, 14th Feb 2019) of the FTNT stock was $83.19. This is 0.93% more than the trading day before Wednesday, 13th Feb 2019.

During day the stock fluctuated 2.06% from a day low at $81.94 to a day high of $83.63.

30 day high of the FTNT stock price was $83.72 and low was $68.15.
90 day high was $83.72 and low was $64.41.
52 week high for the Fortinet - $94.37 and low - $48.20.

Trend

Fortinet has broken the wide and strong rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $83.02, a level that may pose a second chance to hit a runner. According to fan-theory $95.28 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.

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Signals

Only positive signals in the chart today. Fortinet holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $81.72 and $74.47. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday February 07, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.

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Relative Strength Index (RSI)

The stock holds a RSI14 at 78 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 $79.36.

Support: $79.36 Price: $83.19

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 $1.69 between high and low, or 2.06%. For the last week, the stock has had a daily average volatility of 2.30%.

The stock is extremely overbought on RSI14 (78). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stoploss: $79.71 (-4.18%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from pivot bottom found 5 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation: Buy Candidate

Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rising rate. We can conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term period. Due to a possible false trend-break a pure Buy Recommendation is held back.

Weaker Buy Today FTNT ranks #690 as BUY CANDIDATE. Stronger Buy
Today FTNT ranks #690 as BUY CANDIDATE.