This is a play that goes contrary to my past problem patterns of missing the exact bottom and failing to buy strength. PANW has a beautiful island bottom with a breakout on high volume. It has broken above its 200 day moving average. In this current manic bull market PANW is in a perfect situation to join in on the fun. It has a catchy name, is in a "hot" sector (cybersecurity) inside of the leading sector (technology), and is an institutional favorite. In the most bullish of situations this stock is beginning its Primary Wave 3 up and could see a parabolic move over the next year and easily break above its all-time high of $200.
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stockoperatorjm
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well should have stayed away. got out on 6/27 at around $137. took a decent sized loss (was in options), but no where near what it would be if i held on. might try longing again if new recent lows are made and the structure continues to look like an ABC