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Archive
- 7/19/2024 -
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Fortinet (FTNT) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
Move cursor over the icon to see details.
| | It was the negative week for the Fortinet (FTNT). During the week, the FTNT dropped -1.07 points, or -1.80%, and closed at 58.48 on Friday, July 19, 2024. Weekly volume was -6% 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 73.91 on February 7, 2024. FTNT gained -29.76 points, or -67.41%, in 13 weeks. The price is now at the 51.85% retracement level.
 Medium-term trend: [See FTNT medium-term trend chart]
A medium-term downtrend had started on February 7, 2024 at 73.91 and reached 57.00 on June 26, 2024. FTNT lost 16.91 points, or 22.88%, in 20 weeks. The price is now at the 8.75% retracement level.
 Weekly Technical Indicators: [See FTNT weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. 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 link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since April 19, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See FTNT short-term trend chart]
A short-term downtrend had started on July 15, 2024 at 60.72 and reached 57.58 on July 19, 2024. FTNT lost 3.14 points, or 5.17%, in 4 days. The price is now at the 28.66% retracement level.
 Daily Technical Indicators: [See FTNT daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
The distance between the Bollinger Bands (6.29%) is close to one year low (5.75%). It is 58.59% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Information Technology |
7 |
| Industry |
Systems Software |
34 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
60.72 |
| High Date |
07/15/2024 |
| Low |
57.58 |
| Low Date |
07/19/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
60.72 |
| High Date |
07/15/2024 |
| Low |
57.58 |
| Low Date |
07/19/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
61.48 |
| High Date |
07/03/2024 |
| Low |
57.58 |
| Low Date |
07/19/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
73.91 |
| High Date |
02/07/2024 |
| Low |
57.00 |
| Low Date |
06/26/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
44.15 |
| Low Date |
11/03/2023 |
| High |
73.91 |
| High Date |
02/07/2024 |
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