Everyone wants to pile in the news of Nancy P buying calls, but why not let things settle down first? I'd feel a lot better buying around the green then buying now at resistance.
NASDAQ:PANW Good short opportunity on this stock. Breakdown on earnings rallied to $330 and now breaking down again after stock didn't go above 21day ema. Short stock with stop loss above $337
Brought some more PANW. Price has dropped a bit since the initial 5th Wave piviot was identified. This is also a Pelosi buy. The US representative from California filled > MIL:1M in the cyber security stock in Feb. She buys because she knows things... lets see what happens here. I'm initially targeting 378 but will probably go further
Looking to long PANW - will swing over the weekend if I need to.
We've got plenty of taps at the top of the current box and a decent amount of empty space to go grab and squeeze out shorts.
After jumping from the 200MA, we can see that it jumped nicely from the 100MA. I would wait for anther candle of conformation and go long until it filles the gap.
On 2/20/2024, Palo Alto Networks (PANW) reported earnings of $1.52 per share on revenue of $1.98 billion for the fiscal second quarter ended January 2024. The consensus earnings estimate was $1.30 per share on revenue of $1.97 billion.
Looking for a gap fill up to the $360 level after being sold off heavily from those taking profit after its run up from the mid 100s.
Holding a very long January 2025, 540 call option anticipating continued growth of cyber-security companies now that AI is gaining steam.
PANW will fill the gap, continue up in near future than retrace back to retracement from previous high 50% and 0.612 area stock price between 250-270 area
PANW is being bought by US Parliament member Nancy Pelosi, she bought twice in past month.
The current price is in perfect Golden Zone on Daily chart. If we go past ATH there is no actual telling where it will go up to next, we might just move sideways for now to reset RSI or even start moving up at any time. But it also might just drop down a bit.
Palo Alto...
Reasons for bullish bias:
- Price bounced from strong support
- Price bounce from strong 0.5 Fib
- No divergence
- Positive Earnings
Entry Level(CMP): 311.08
Stop Loss Level: 255.89
Take Profit Level 1: 366.27
Take Profit Level 2: Open
PALO ALTO NETWORKS NASDAQ:PANW - Feb. 27th, 2024
BUY/LONG ZONE (GREEN): $307.55 - $377.00
DO NOT TRADE/DNT ZONE (WHITE): $282.00 - $307.55
SELL/SHORT ZONE (RED): $225.00 - $282.00
Weekly: Bullish
Daily: Bullish
4H: DNT
Decided to chart this up after all the noise around the Nancy Pelosi options. Would wait for weekly close to see if price breaks above $307.55...
Here is a weekly chart of Palo Alto clearly in a bullish trend since Jan of 2023. Massive red candle from last ER but closed inside channel. Nancy just bought $1.25M of Jan 2025 200C on Feb 12. You remember how NVDA did for her?
Buy Jan 2025 300C @ 57.00
PANW Dropped 25% overnight after disappointing earnings. The 25% drop brought it perfectly down to the 200 EMA and right above a major pivot. If it holds the 200 EMA, this could just be an aggressive but potentially healthy pullback for a stock that has been technically overbought for over a month.
In an era where connectivity is the cornerstone of innovation and progress, Palo Alto Networks ( NASDAQ:PANW ) has taken a monumental stride towards securing the future with the announcement of their end-to-end private 5G security solutions. Teaming up with leading Private 5G partners, Palo Alto Networks aims to redefine network security and empower organizations...
Dear traders,
Id like to share this idea in order to take long positions.
230- 260$ is is a good price range to look for buying opportunities.
Additionally RSI is clearly oversold and prices already went down quite aggressive.
best,
Palo alto is great company and earning call was also good however forecast was bad since they are changing internal structure to prepare for long term which is a good thing. This is a very good time to get in. Also the stock has entered the channel. Till it is in the channel bullish trend will continue.
After a strong fall of reporting, Will it going to close the Gap-up ?
Above the average line 150 + meeting the lower support trend line + 85% of gaps are statistically closed + RSI oversold. Only an idea and not a recommendation for trading!
