Palo Alto Networks: An Expected Move Towards The $512 Closest Resistance Level
Today’s instrument is the Palo Alto Networks Inc.‘s stock traded on the Nasdaq exchange under the ticker PANW.
When we look at the PANW ‘s chart, we can see a climb from the $435 range on the 21st of May to the $470 where it formed its new support level, then climbing to the $500 mark, failed to move past it, and returned to the $470 level support. During yesterday’s session, there was a spike early on its session, reaching the high of $512 but ultimately returning to the $502 where it was last found trading.
Today we can expect a move towards the $512 closest resistance level.
If however, it doesn’t manage to hold on to the current level, then a move towards the $470 support level can be expected.
(Click on image to enlarge)
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