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SmarTrend Watching for Potential Rebound in Shares of Palo Alto Networ After 1.40% Loss

By Shiri Gupta

Palo Alto Networ (NYSE:PANW) traded in a range yesterday that spanned from a low of $191.34 to a high of $193.70. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $192.14 on volume of 256,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Palo Alto Networ share prices have been bracketed by a low of $125.47 and a high of $251.11 and are now at $191.95, 53% above that low price. The 200-day and 50-day moving averages have moved 0.22% lower and 2.87% lower over the past week, respectively.

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: rebounders palo alto networ

Ticker(s): PANW