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Watch for Palo Alto Networ to Potentially Pullback After Gaining 2.03% Yesterday

By Shiri Gupta

Palo Alto Networ (NYSE:PANW) traded in a range yesterday that spanned from a low of $186.04 to a high of $188.41. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $184.45 on volume of 140,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Palo Alto Networ share prices have moved between a 52-week high of $251.11 and a 52-week low of $125.47 and are now trading 49% above that low price at $186.68 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has remained constant.

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