Welcome to our latest Elliott Wave analysis for Palo Alto Networks Inc. (PANW). This analysis provides an in-depth look at PANW's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on PANW's market behavior.
PANW Elliott Wave Analysis Trading Lounge Daily Chart
Palo Alto Networks Inc. (PANW) Daily Chart Analysis
PANW Elliott Wave Technical Analysis
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: Flat
POSITION: Minor C
DIRECTION: Top in wave C
DETAILS: Looking for completion of Minor wave C to then continue lower in the overall correction in Primary wave 4.
PANW Stock Technical Analysis – Daily Chart
The daily chart suggests that we are looking for the completion of Minor wave C, which would signify the end of the current corrective phase. Following this, we anticipate further downside movement as the overall correction in Primary wave 4 continues. Traders should be alert for signs of a top in wave C, which could indicate the resumption of the downtrend.
PANW Elliott Wave Analysis Trading Lounge 4Hr Chart
Palo Alto Networks Inc. (PANW) 4Hr Chart Analysis
PANW Elliott Wave Technical Analysis
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: Flat
POSITION: Wave {iv} of C
DIRECTION: Upside in wave {v}
DETAILS: Looking for another leg higher into wave {v} towards $350, as we seem to be in a corrective mode in wave {iv}.
PANW Stock Analysis – 4Hr Chart
The 4-hour chart indicates that we are currently in wave {iv} of C, which appears to be in a corrective mode. We expect another leg higher into wave {v}, targeting around $350. This upside move in wave {v} would likely complete the corrective phase before a potential resumption of the downtrend.
Technical Analyst: Alessio Barretta
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