January 21, 2024, 05:34 am ET, BY Patrick - Contributor, Stock Traders Daily |
Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for PANW
- Buy PANW slightly over 318.35 target n/a stop loss @ 317.43. Details
The technical summary data tells us to buy PANW near 318.35, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 317.43 to protect against excessive loss in case the stock begins to move against the trade. 318.35 is the first level of support below 337.74, and by rule, any test of support is a buy signal. In this case, if support 318.35 is being tested, a buy signal would exist.
- NONE . Details
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
Swing Trading Plans for PANW
- Buy PANW slightly over 346.57, target n/a, Stop Loss @ 345.57 Details
If 346.57 begins to break higher, the technical summary data tells us to buy PANW just slightly over 346.57, with an upside target of n/a. The data also tells us to set a stop loss @ 345.57 in case the stock turns against the trade. 346.57 is the first level of resistance above 337.74, and by rule, any break above resistance is a buy signal. In this case, 346.57, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short PANW slightly near 346.57, target 330.9, Stop Loss @ 347.57. Details
The technical summary data is suggesting a short of PANW if it tests 346.57 with a downside target of 330.9. We should have a stop loss in place at 347.57 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 346.57, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for PANW
- Buy PANW slightly over 338.19, target 346.57, Stop Loss @ 337.4 Details
If 338.19 begins to break higher, the technical summary data tells us to buy PANW just slightly over 338.19, with an upside target of 346.57. The data also tells us to set a stop loss @ 337.4 in case the stock turns against the trade. 338.19 is the first level of resistance above 337.74, and by rule, any break above resistance is a buy signal. In this case, 338.19, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short PANW slightly near 338.19, target 332.9, Stop Loss @ 338.98. Details
The technical summary data is suggesting a short of PANW if it tests 338.19 with a downside target of 332.9. We should have a stop loss in place at 338.98 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 338.19, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Palo Alto Networks Inc. (PANW) available here: PANW.
PANW Ratings for January 21:
Term → | Near |
Mid |
Long |
Rating |
Strong |
Strong |
Strong |
P1 |
0 |
0 |
266.1 |
P2 |
332.9 |
330.9 |
292.67 |
P3 |
338.19 |
346.57 |
318.35 |
AI Generated Signals for PANW
Blue = Current Price
Red = Resistance
Green = Support
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Fundamental Charts for PANW: