We purchased CALLS for PANW going into yesterday's morning session around the $144 Price Levels as we noticed that PANW broke out of it's Longer-Term Downward Channel. After further analysis, we acknowledge the potential for $165-$168 while showing the potential momentum of breaking through the Expected Resistance around the $152-$153.
We expect to hold this as long as the stock continues to hold the current Blue Trend and for risk management, we would close out our trade and take those profits to purchase our long-term hold in the stock as it is still 28% off of it's $213.63 ATH and some headroom to move forward to the upside.
Will keep you guys updated and thanks for following us at MyMI!
We expect to hold this as long as the stock continues to hold the current Blue Trend and for risk management, we would close out our trade and take those profits to purchase our long-term hold in the stock as it is still 28% off of it's $213.63 ATH and some headroom to move forward to the upside.
Will keep you guys updated and thanks for following us at MyMI!
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Update on this Trade:We sold our goals just a few minutes ago as the stock broke the support we were looking for it to hold at least running into that resist. Expecting this to come back down to at least $146 to look for additional support there or at $144 again.
If we break $144, then we're heading back to the $132s
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.