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After Yesterday's Rally of 1.38% Shares Could Potentially Pullback

By Shiri Gupta

Palo Alto Networ (NYSE:PANW) traded in a range yesterday that spanned from a low of $175.90 to a high of $179.24. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $177.13 on volume of 553,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Palo Alto Networ on June 1st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $136.49. Since that recommendation, shares of Palo Alto Networ have risen 29.5%. We continue to monitor PANW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Palo Alto Networ share prices have moved between a 52-week high of $179.22 and a 52-week low of $107.31 and are now trading 66% above that low price at $178.63 per share. The 200-day and 50-day moving averages have moved 0.56% lower and 0.92% higher over the past week, respectively.

Keywords: rebounders palo alto networ

Ticker(s): PANW