Palo Alto Networks Inc (PANW): Price Now Near $344.47; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for PANW

Currently, PANW (Get Ratings)’s price is up $0.13 (0.04%) from the hour prior. PANW has seen its price go up 5 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

PANW ranks 1st in terms of today’s price percentage change out of Computers stocks.

PANW’s Technical Outlook on the Daily Chart

At the time of this writing, PANW’s price is up $8.67 (2.58%) from the day prior. This is a reversal of the price action on the previous day, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 day moving average, resulting in them so that price is now turning above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows PANW’s price action over the past 90 days.

PANW

For PANW News Traders

News traders keeping an eye on PANW may find value in this recent story:

Palo Alto Networks climbs as Raymond James turns bullish ahead of earnings

Palo Alto Networks (PANW) shares are down 5% year-to-date versus the 35% gain for Fortinet, prompting Raymond James to upgrade PANW from Market Perform to Outperform with a $400 price target.Analyst Adam Tindle remains concerned that Palo Alto’s soft ARR guidance wasn’t conservative, but the current valuation eases that concerns.Tindle has…

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