The Greedy Trader Weekly Analysis
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- 1/15/2021 -
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Fortinet (FTNT)

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal line
Daily :A Parabolic SAR indicator is above and near the price
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It was the negative week for the Fortinet (FTNT). During the week, the FTNT dropped -1.61 points, or -1.09%, and closed at 146.53 on Friday, January 15, 2021. It was the worst weekly loss since October 30, 2020. Weekly volume was -25% below average.

FTNT is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See FTNT long-term trend chart]
A long-term downtrend had started on December 22, 2020 at 153.33 and reached 137.31 on January 6, 2021. FTNT lost 16.02 points, or 10.45%, in 2 weeks. The price is now at the 57.55% retracement level.

Medium-term trend: [See FTNT medium-term trend chart]
A medium-term uptrend had started on January 6, 2021 at 137.31 and reached 155.31 on January 12, 2021. FTNT gained -18.00 points, or -13.11%, in 0 weeks. The price is now at the 48.78% retracement level.

Weekly Technical Indicators: [See FTNT weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 weekly MACD line is above its signal line since December 11, 2020. This is an indication that the medium-term trend is up. 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 January 12, 2021 at 155.31 and reached 145.89 on January 15, 2021. FTNT lost 9.42 points, or 6.07%, in 3 days. The price is now at the 6.79% retracement level.

Daily Technical Indicators: [See FTNT daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since January 4, 2021. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (145.66) comes close to the price (146.53). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.32
Williams' Percentage Range (W%R) 36.60
Lane's Stochastic (%D-Slow) 66.75
Greed/Fear Indicator (GFI) 58.50
Moving Average Converg./Diverg. (MACD) 4.95
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.17
Williams' Percentage Range (W%R) 16.10
Overbought
Lane's Stochastic (%D-Slow) 86.87
Overbought
Greed/Fear Indicator (GFI) 75.19
Moving Average Converg./Diverg. (MACD) 3.59
Trading Signals
Description Value Chart
Upper Bollinger Band 151.87
Weekly Stochastic Crossing 150.36
Daily Stochastic Crossing 148.72
20 Day Moving Average 146.68
Price 146.53
Parabolic System 145.66
Lower Bollinger Band 135.67
50 Day Moving Average 131.70
Sector and Industry
Description Name Rank
Sector Information Technology 9
Industry Systems Software 55
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 155.31
High Date 01/12/2021
Low 145.89
Low Date 01/15/2021
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 155.31
High Date 01/12/2021
Low 145.89
Low Date 01/15/2021
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 155.31
High Date 01/12/2021
Low 145.89
Low Date 01/15/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 137.31
Low Date 01/06/2021
High 155.31
High Date 01/12/2021
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 153.33
High Date 12/22/2020
Low 137.31
Low Date 01/06/2021
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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