PANW Elliott Wave Analysis Trading Lounge Daily Chart, depositphotos PaloAlto Networks Inc., (PANW) Daily Chart PANW Elliott Wave Technical AnalysisFUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor 1 of (5). DIRECTION: Upside into wave 1.  DETAILS: Looking for a resumption of the uptrend after what appears to be a three wave move into wave (4), as we currently stand between TL3 and 400$.  PANW Elliott Wave Analysis Trading Lounge 1H Chart,PaloAlto Networks Inc., 1H Chart PANW Elliott Wave Technical AnalysisFUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {ii} of 1.   DIRECTION: Bottom in wave {ii}. DETAILS: Looking for either continuation sideways in wave (b) of {ii} to then complete the correction lower in (c), or else we could already be in the making of wave (c).  This Elliott Wave analysis for Palo Alto Networks Inc. evaluates the current wave structure and potential price movements on both the daily and 1-hour charts. The analysis focuses on identifying the wave positions and key levels that could inform trading strategies. * PANW Elliott Wave Technical Analysis – Daily Chart* PANW appears to have completed a three-wave corrective pattern into wave (4), positioning the stock for a resumption of the uptrend. Currently, the stock is trading between TradingLevel3 (TL3) and the 400$ level. This suggests that the stock may be gearing up for a new impulsive move higher in Minor wave 1 of Intermediate wave (5). Traders should monitor for a break above 400$ to confirm the continuation of the uptrend. * PANW Elliott Wave Technical Analysis – 1H Chart* The 1-hour chart suggests that PANW is currently in wave {ii} of 1, which is a corrective phase. There are two possible scenarios unfolding: either the stock continues to move sideways in wave (b) of {ii} before completing the correction lower in wave (c), or the correction in wave (c) is already underway. In either case, once wave {ii} completes, traders can expect a resumption of the uptrend in wave {iii} of 1.Technical Analyst : Alessio BarrettaSource : Tradinglounge.com get trial here!More By This Author:British Pound/Japanese Yen Forex Elliott Wave Technical Analysis 1
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