I put on a bear call spread on PANW
The IVR was kinda low I have bad risk reward its not 1/3 the width but the false breakout was a lucrative move.
I put on the trade.
$1.52 7.5 width.
Max gain is $76 max loss is $152.
Aug 2 exp
Since PANW is very rich in premium right now with a high IV. It seems to have broken support and is going sideways. ER is May 30th I may decide to take off the trade before then however I may also want to take advantage of the IV contraction.
195/200/240/250 EXP June 21st $290/710 Profit/Risk
I plan to take the trade off at $150 profit which means I will risk...
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Palo Alto Networks (PANW) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a...
$PANW looking oversold, MFI is bottoming out. Forming a bullish inverted hammer on the daily chart, holding the 50d ema as support. Expecting a bounce in the near term with September earnings gap now closed.
Medium term target - $250 by early Nov
Note: informational analysis, not investment advice.
I just took a look at this garbage company and its bleak earnings release, I WAS SHOCKED AT THE STOCK PRICE COMPARED TO THE MONSTERS MICRON, WESTERN DIGITAL, INTEL AND MANY MORE!
PALO NETWORKS IS TRADING AT $220 ... OMG! ... AND ... AFTER HOURS UP $12.00 ON A NEGATIVE EARNINGS REPORT..?
YES, THESE STOCKS ARE BUBBLES AND WALL STREET COMPANIES LIKE MICRON SHOULD...
$PANW hasn't gone anywhere since the start of 2016. It has been consolidating making a triangle in the process. If it breaks above the downtrend line over the next few weeks we can see it go much higher. Above $155 is where the jet propulsion starts. If so it could easily see $200 in the year 2018.
PANW is forming a Butterfly harmonic pattern. The 1.272 XA extension perfectly aligns with the 61.8% fib retracement of the entire bullish move.
Potential reversal zone is 102-101. PANW will gravitate towards 102-101 area first (That aligns with long term 61.8 fib) and then will bounce back to $116 and then 126 before earnings.
The price movements since July 2015 look corrective to me. So my preferred count is shown in the chart. I personally think the yellow area could be the potential end of correction. There might be a great opportunity with tight stops but need to see the price action first. Watch it closely.
Btw, if I am right, the bottom should be in within March 2017.
Switched to the daily for this pattern. Looking at a cup and handle into earnings. After a breather this past year, cyber is becoming another hot topic with the election. Pay attention to this as the next 2 weeks go. Im a buyer on volume
After a triple top around $190 PANW dropped down to $110. Though PANW reported a loss for earnings on 2/25/16 they beat expectation and the stock rallied to the $152 resistance level. Since then price has created an almost perfect bull flag. If price continues to rally and defiantly break through the $152 resistance, I expect next stop to be in the $170area....
PANW was down 45% from highs due to market meltdown. Earnings may give a huge thrust and give bulls convincing about the growth story and take price above previous long term weekly support of 140 which was broken 3 weeks back.
3-10 In keeping with my theme today of using support to guide
Much like PANW this issue is sporting a similar set up brewing.
For those who like to buy stocks in uptrends
pulling back to support? You need only ask one question.
Where is it? Look no further than the green trend line.
Should this issue tag those zones that is where you want to...