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Systems Software Industry Stocks Technical Analysis - FTNTArchive
- 5/2/2025 -
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Fortinet (FTNT) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :
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| | It was a second consecutive positive week for the Fortinet (FTNT). During the week, the FTNT gained 4.38 points, or 4.30%, and closed at 106.18 on Friday, May 2, 2025. Weekly volume was -22% below average.
 Long-term trend: [See FTNT long-term trend chart]
A long-term uptrend had started on November 3, 2023 at 44.15 and reached 114.80 on February 18, 2025. FTNT gained -70.65 points, or -160.02%, in 67 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 64.93 and resistance is at 123.07. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See FTNT medium-term trend chart]
A medium-term downtrend had started on February 18, 2025 at 114.80 and reached 81.70 on April 7, 2025. FTNT lost 33.10 points, or 28.83%, in 6 weeks. The price is now at the 73.96% retracement level.
 Weekly Technical Indicators: [See FTNT weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 7, 2025. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See FTNT short-term trend chart]
A short-term uptrend had started on April 22, 2025 at 91.24 and reached 106.65 on May 2, 2025. FTNT gained -15.41 points, or -16.89%, in 10 days. Price is near the trend high.
 Daily Technical Indicators: [See FTNT daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since April 9, 2025. This is an indication that the short-term trend is up.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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