Palo Alto Networks Inc. (PANW) Elliott Wave technical analysis [Video]
|PANW Elliott Wave Analysis Trading Lounge Daily Chart,
Palo Alto Networks Inc.,( PANW) Daily Chart.
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 Elliott Wave Analysis Trading Lounge 4Hr Chart,
Palo Alto Networks Inc., (PANW) 4Hr Chart.
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}.
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 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 technical analysis – Four-hour 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.
PANW Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.