PANW Elliott Wave Analysis – TradingLounge Daily Chart
Palo Alto Networks Inc. (PANW) – Daily Chart Analysis
PANW Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Motive
STRUCTURE: Impulsive
POSITION: Wave (v) of {i}
DIRECTION: Upward movement toward Wave (v)
DETAILS: PANW stock continues to move higher, progressing into Wave (v) within a larger impulsive structure. The price is approaching a significant resistance zone near the $200 mark, aligned with Trading Level 2. This level is considered a key decision point for potential bullish continuation.
The daily Elliott Wave chart for Palo Alto Networks Inc. (PANW) illustrates a strong upward trend within an impulsive formation, with Wave (v) nearing completion under Minor Wave {i}. The $200 resistance level is technically crucial. A confirmed breakout above this resistance could open the path for extended bullish momentum.
Palo Alto Networks Inc. (PANW) – 1 Hour Chart
PANW Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Motive
STRUCTURE: Impulsive
POSITION: Wave v of (v)
DIRECTION: Continuing upward in Wave v
DETAILS: The price has rebounded from the support line of the parallel channel formed by Wave (iv). Currently, PANW is advancing in Wave v, with the immediate target set at $200. If Wave (v) mirrors the length of Wave (i), the next projected resistance lies at $217.
The 1-hour Elliott Wave analysis confirms the bullish trend, supported by a successful retest of channel support. With Wave (v) unfolding, the price action suggests a short-term bullish outlook toward $200. A further extension toward $217 remains a viable scenario if wave symmetry holds, reinforcing the current bullish momentum.
Technical Analyst: Alessio Barretta
Source: Visit Tradinglounge.com and learn from the Experts. Join TradingLounge Here
Previous: Costco Wholesale Corp. (COST) Elliott Wave Technical Analysis
VALUE Offer - Buy 1 Month & Get 3 Months!Click here
Access 7 Analysts Over 200 Markets Covered. Chat Room With Support
