Palo Alto Networks: An Expected Move Towards The $600 Price Level.

Today’s instrument is the Palo Alto Networks Inc.‘s stock traded in the NYSE exchange under the ticker PANW

When we look at the PANW ‘s chart, we see its rise from the $480 level to the $510 range during last week, but then the slow-paced retraction back towards the $460 range where support was formed. Then followed a big spike on the 25th of February, rising from the support and breaking through the resistance previously formed at the $510 level, and rallying well into the $560 range. This reaction was mainly due to increased interest by investors for cybersecurity-related companies, as cyber warfare concerns related to the Russian invasion heighten. It was last found trading at the $569 range after an impressive run and a strong close on Friday’s session, having the closest support level at $510.

Today we can expect a move towards the $600 price level.

If however, it doesn’t manage to hold on to the current level then a move close to the $515 support can be expected.

Palo Alto Networks Inc.

Disclaimer: Trading is risky. Information presented herein is not to be construed as a solicitation or an offer to buy or sell any Financial Instrument or to participate in any trading ...

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