PANW | Carving Out a Bottom | BouncePalo Alto Networks, Inc. provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on a customer's network, as well as their instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, and firewall; and DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention. In addition, the company offers cloud security, secure access, security operations, and threat intelligence and cyber security consulting; professional services, including architecture design and planning, implementation, configuration, and firewall migration; education services, such as certifications, as well as online and in-classroom training; and support services. Palo Alto Networks, Inc. sells its products and services through its channel partners, as well as directly to medium to large enterprises, service providers, and government entities operating in various industries, including education, energy, financial services, government entities, healthcare, Internet and media, manufacturing, public sector, and telecommunications. The company was incorporated in 2005 and is headquartered in Santa Clara, California.
PANW trade ideas
PANW - MyMI Option PlaysWe 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!
PANW head and shoulders set-up tinkering on gap fill supportPANW has a gap fill support around 140, it has tested it 3 times now and with each touch it is getting weaker. I want to see the EMAs catch up so there is a stronger follow through with a breakdown, target will be first gap fill support, but then 100 psychological number.
OversoldDeeply oersold with a string of red candles following PANW as it enters an old Gap left behind a while back.
Price can remain oversold for extended periods of time.
Possible support zone if the bottom of this gap is reached.
Prior H&S and price is below the neckline.
Price is now below the .382 of the trend up but is above the 50% level.
No recommendation
PANW Palo Alto Networks Options Ahead of EarningsLooking at the PANW Palo Alto Networks options chain ahead of earnings , i would buy the $160 strike price in the money Calls with
2022-11-18 expiration date for about
$7.70 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
PANW:Earnings surprise catalyst!Palo Alto Networks
Short Term - We look to Buy at 533.54 (stop at 509.45)
They reported better than expected earnings and share jumped in premarket. We are trading within a Bullish Ascending Triangle formation. Broken out of the triangle formation to the upside. Previous resistance at 531.00 now becomes support. Dip buying offers good risk/reward.
Our profit targets will be 604.82 and 620.00
Resistance: 560.00 / 605.00 / 640.00
Support: 531.00 / 460.00 / 400.00
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Head and Shoulders This is not below the neckline of 455.55.
Price should fall below this level with a confirmed downtrend before a H&S pattern is valid.
Retests of the neckline are common after price falls below it. This one has fallen below and is now back above it.
Price is below what appears to be a bear flag.
No recommendation.
Possible short if price drops below neckline.
Short percent is 7.27%.
This one may be a nail biter to short. Time will tell.