CupNo true handle has formed as of yet. A handle is a zone of strong support underneath long entry level. Long entry level is a level above looming resistance associated with the pattern one is trading. In this case I placed it just above the high of the left (sell side) of the cup.
It is often best to wait until this is reached unless you already own the security in question.
Sometimes price will go back down and form a handle after long entry level was met. In this case if price goes back below entry long (EL) then some would call this a Throwback. A Throwback occurs when price breaks EL but closes back below EL in a short amount of time. Throwbacks differ from pullbacks and can hurt performance.
Bearish Harami/spinning top so far today but this candle pattern needs confirmation with a 3rd candle.
No recommendation.
Targets for a cup are guesstimated using the cup depth which is 81.41 and fib levels are applied.
No recommendation.
0KF5 trade ideas
PANW: Cup & Handle Plus a Inverse Head & ShouldersPANW seems to have formed an Inverse Head & Shoulders over the last few weeks. Also formed a nice cup and handle if it holds above $186 in my eyes.
Tech Earnings have been quick strong in this environment. My belief is we will see continued robust spending in Cyber Security that will provide another strong report for PANW.
Looking for an exit north of $200.
NASDAQ:PANW
Would love hear your thoughts.
Be well and and trade smart!
This is NOT Financial Advice.
PANW Palo Alto Networks Options Ahead of EarningsIf you haven`t bought PANW here:
Then Analyzing the options chain of PANW Palo Alto Networks prior to the earnings report this week,
I would consider purchasing the 190usd strike price Calls with
an expiration date of 2023-6-16,
for a premium of approximately $8.75
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
$PANW Possible Downside for Palo Alto NASDAQ:PANW
Taking a look at PANW here
in a long-term downward channel which can be seen on the daily and weekly time scales
Showing Bearish divergence on the both the MACD and RSI on multiple time scales
With a big gap on the downside.
they report earnings after close today so this one may be one to watch
Let me know what everyone thinks!
Happy Trading!
PANW rallies continue to be capped.Palo Alto Networks - 30d expiry - We look to Sell at 177.77 (stop at 184.04)
Levels above 178 continue to attract sellers.
179 has been pivotal.
The previous swing high is located at 178.97.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Resistance could prove difficult to breakdown.
Our profit targets will be 162.11 and 160.11
Resistance: 171.50 / 175.00 / 179.00
Support: 167.81 / 166.00 / 160.00
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PANW cup and handle forming leading into earningsPANW here is forming a very nice cup and handle leading into earnings next week.
Personal Checklist for positive move to the upside
1. PANW has long history of gap ups post earnings by under promising and overperforming
2. Technicals/momentum support the upside move in the short term
3. Nasdaq must hold the 290-300 range in the coming week, if so we need to see panw hold the top end of the descending trend from 2022 (160 range) near the .5 fib
4. PANW has posted 2 quarters of GAAP profitability, another profitable post will place it 1 step closer to inclusion into the SPY (positive catalyst moving into next earnings)
Indicators are on it's side for a move to the upside, imo we should see a short term pullback based on recent macro headwinds and overall sentiment on the nasdaq falling in the recent days.
Earnings will be everything with this move, key now is guidance moving forward .
If guidance is raised or positive enough that they are anticipating posting a 4th quarter of gaap profitability staying with their current revenue targets then a move to the upside is likely as there might be a fomo front run for a SPY inclusion
PANW additionally noted previous earnings that they are mostly insulated from the dollar outperforming other currencies as all billings are denoted in USD. Companies will surely be reducing costs and we could hear that come into play during the call, but reducing security posture/architecture moving into a highly volatile timeframe is likely the worst path to take from a PR standpoint in case of any data breaches
PANW | Carving Out a Bottom | BouncePalo Alto Networks, Inc. provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on a customer's network, as well as their instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, and firewall; and DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention. In addition, the company offers cloud security, secure access, security operations, and threat intelligence and cyber security consulting; professional services, including architecture design and planning, implementation, configuration, and firewall migration; education services, such as certifications, as well as online and in-classroom training; and support services. Palo Alto Networks, Inc. sells its products and services through its channel partners, as well as directly to medium to large enterprises, service providers, and government entities operating in various industries, including education, energy, financial services, government entities, healthcare, Internet and media, manufacturing, public sector, and telecommunications. The company was incorporated in 2005 and is headquartered in Santa Clara, California.
PANW - MyMI Option PlaysWe purchased CALLS for PANW going into yesterday's morning session around the $144 Price Levels as we noticed that PANW broke out of it's Longer-Term Downward Channel. After further analysis, we acknowledge the potential for $165-$168 while showing the potential momentum of breaking through the Expected Resistance around the $152-$153.
We expect to hold this as long as the stock continues to hold the current Blue Trend and for risk management, we would close out our trade and take those profits to purchase our long-term hold in the stock as it is still 28% off of it's $213.63 ATH and some headroom to move forward to the upside.
Will keep you guys updated and thanks for following us at MyMI!
PANW head and shoulders set-up tinkering on gap fill supportPANW has a gap fill support around 140, it has tested it 3 times now and with each touch it is getting weaker. I want to see the EMAs catch up so there is a stronger follow through with a breakdown, target will be first gap fill support, but then 100 psychological number.
OversoldDeeply oersold with a string of red candles following PANW as it enters an old Gap left behind a while back.
Price can remain oversold for extended periods of time.
Possible support zone if the bottom of this gap is reached.
Prior H&S and price is below the neckline.
Price is now below the .382 of the trend up but is above the 50% level.
No recommendation
PANW Palo Alto Networks Options Ahead of EarningsLooking at the PANW Palo Alto Networks options chain ahead of earnings , i would buy the $160 strike price in the money Calls with
2022-11-18 expiration date for about
$7.70 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.