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.

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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