Palo Alto Networks - buying dip?FUNDAMENTAL
PANW earnings guidance lagged its forecast, creating a 12% decline after hours.
Palo Alto said that it has agreed to acquire Aporeto, a machine identity-based micro-segmentation firm, for $150 million in cash. The company said its earnings projections include net expenses related to the proposed acquisition.
TECHNICAL
Both the 50sma and 200sma are working as support after the earnings report took PANW 12% after hours.
The 50sma is also looking to break the 200sma. Crossing of the 50sma over the 200sma could be a bullish confirmation of a healthy uptrend.
Will enter position if we can stay above the SMA's and enter the channel, formed by the most recent gap.
**Next short-term resistance area --> $228-$230.
