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Palo Alto Networ Set to Possibly Pullback After Yesterday's Rally of 1.25%

By Shiri Gupta

Palo Alto Networ (NYSE:PANW) traded in a range yesterday that spanned from a low of $240.50 to a high of $244.24. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $242.62 on volume of 249,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Palo Alto Networ has traded in a range of $192.17 to $260.63 and is now at $242.55, 26% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of Palo Alto Networ on October 23rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $216.05. Since that recommendation, shares of Palo Alto Networ have risen 11.1%. We continue to monitor PANW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders palo alto networ

Ticker(s): PANW