Palo Alto Networks $PANW Trade Idea
I entered the trade on
PANW
Tuesday 28th as a swing trade opportunity.
That day the price of
PANW
closed above the key resistance level which rebounded the price several times. Due to this I though the price would rapidly move up and so it did.
The swing trade was very profitable and so I closed the trade today at the highs and go tout before the stock broke the intraday trend/structure.
If the price continues its climb, I will likely re-enter, otherwise I will wait for it to retest the previous resistance, now support for a new entry around the $270 price point.
The oscillators look overbought, so I do anticipate that the price will pullback in the short term.
The moving averages are all sloping up indicating that the medium term trend is up.
Hope this was helpful for the readers, if so follow for more trade ideas.
See you in the next one!
PANW
Tuesday 28th as a swing trade opportunity. That day the price of
PANW
closed above the key resistance level which rebounded the price several times. Due to this I though the price would rapidly move up and so it did. The swing trade was very profitable and so I closed the trade today at the highs and go tout before the stock broke the intraday trend/structure.
If the price continues its climb, I will likely re-enter, otherwise I will wait for it to retest the previous resistance, now support for a new entry around the $270 price point.
The oscillators look overbought, so I do anticipate that the price will pullback in the short term.
The moving averages are all sloping up indicating that the medium term trend is up.
Hope this was helpful for the readers, if so follow for more trade ideas.
See you in the next one!
Trade closed: target reached
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