04Dec

Palo Alto Networks (PANW) Stock Analysis: Elliott Wave Insights, Bullish Trends, Price Predictions, Wave Counts, and Trading Tips

Palo Alto Networks Inc., (PANW)Elliott Wave Analysis Trading Lounge Daily Chart

PANW Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Minute {iii}

Direction: Upside within {iii} of 3

Details: We anticipate further upside into wave (5), having completed a large wave 2. The stock appears to be nesting within a series of ones and twos, signaling the early stages of wave 3 development.

PANW Elliott Wave Technical Analysis – Daily Chart

PANW is currently in Minute wave {iii} of an impulsive wave 3, with further upside movement expected. Following the completion of a large wave 2, the stock seems to have nested in a series of ones and twos, characteristic of the early stages of wave 3. This indicates that a significant upward move is on the horizon as wave (5) develops. The impulsive structure suggests sustained bullish momentum, aligning with the broader upward trend.

PaloAlto-Networks-In...


Palo Alto Networks Inc., (PANW) Elliott Wave Analysis Trading Lounge 1H Chart

PANW Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave {iv} of 3

Direction: Upside in wave {v}

Details: An alternate perspective suggests the possibility of a triangle formation in wave {iv}, preceding an upward move into wave {v} of 3. However, wave {v} must remain shorter than wave {iii}, setting an upper limit of $444.

PANW Elliott Wave Technical Analysis – 1H Chart

On the 1-hour chart, PANW appears to be in wave {iv} of 3. An alternate scenario proposes a triangle formation in wave {iv}, signaling consolidation before the next upward movement into wave {v} of 3. To adhere to the proportionality rules of the Elliott Wave framework, wave {v} must not exceed wave {iii}, capping the upside target at $444. This setup indicates a continuation of the bullish trend after a brief period of consolidation.

Technical Analyst: Alessio Barretta

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See Previous: NFLX Elliott Wave Technical Analysis 

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