• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Palo Alto Networ (NYSE:PANW)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Palo Alto Networ (NYSE:PANW) based on the price action in the company's shares. Today's price range of $241.76 and $241.76 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Palo Alto Networ may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Palo Alto Networ have traded between a low of $160.08 and a high of $260.63 and are now at $241.76, which is 51% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

Palo Alto Networ (NYSE:PANW) is currently priced 15.8% above its average consensus analyst price target of $203.45. The stock should find initial support at its 50-day moving average (MA) of $238.55 and further support at its 200-day MA of $211.77.

Palo Alto Networks, Inc. provides network security solutions. The Company offers firewalls that identify and control applications, scan content to stop threats, prevent data leakage, integrated application, user, and content visibility. Palo Alto Networks serves customers worldwide.

SmarTrend is tracking the current trend status for Palo Alto Networ and will alert subscribers who have PANW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle palo alto networ

Ticker(s): PANW