P2AN34 trade ideas
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.
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PANW cybersecurity leader holding Megaphone TOP; next 3 TPsIf Palo Alto is able to hold the top of the megaphone pattern, you can expect the next 3 targets on the chart. However with RSI overbought, it may still retrace to 556 an important Fib support before any more upside.
With so many geopolitical uncertainties ahead, cybersecurity will see much more upside in 2022.
Not trading advice
The AGE of Cybersecurity 🔒 Hello Team!
Here is a fresh look at what we believe to be a large & growing sector; Cyber Security. As more of us are becoming 100% Digital and Currencies such as the Chinese Yuan are going digital we can assume that current trends will continue to develop rapidly. This leaves everyone vulnerable to hacks, cyberattacks, and breaches.
We are looking at stock called: Palo Alto Networks. This specific stock has held strong during these uncertain times in the stock market while other strong stocks have been having corrections. We listed a few buy areas for long-term investors. It's best to dollar cost average in strong stock that you believe will play a big part in the future. The smallest position will be #1 increasing to #3 (Levels which we may never see again, but it's important to note & set alerts as the months and years go on in case we forget about it.)
We would love to hear your thoughts on other companies in this space that you believe will be game-changers!
PANW - Cybersecurity bullishnessI'm liking how PANW looks for tomorrow. It solidly broke out of a long range earlier today and could have some firepower going into the day tomorrow. This could be great for day trading. Swingers might want to wait for a retest of support to enter, but that all depends on risk tolerance and overall strategies for each individual trader. In other words, YMMV.
I'm watching this closely at the open tomorrow to get in on some of the action. Quick scalps here could be easy with a breakout possibly moving to the $600 mark, or near to it. As always, be careful and watch for signs of sell offs as people may take profits at these higher levels and in the risky market environment we currently live in.
Ultimately, I think that this is the beginning of a potential uptrend and I'll be looking for that retest or a flag to go long. Tomorrow, it's all about that scalp for me.
Fundamentally this play makes sense as well. Cybersecurity should be at the top of every company's mind with what's going on in the world today. CRWD had some great moves earlier today and we could see other similar companies (like the main character of this post) move up along with the rest of the sector.