PANW Elliott Wave Analysis Trading LoungePalo Alto Networks Inc., (PANW) Daily ChartPANW Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minute {iii}.DIRECTION: Upside within {iii} of 3.DETAILS: Looking for further upside into wave (5) as we seem to have completed a large wave 2 and then started to nest in what could be a series of ones and twos.
Palo Alto Networks Inc., (PANW) 1H ChartPANW Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave {iv} of 3.DIRECTION: Upside in wave {v}.DETAILS: Here’s an alternate highlighting the possibility we are in a triangle in wave {iv}, and we are headed higher into wave {v} of 3 which has to be shorter than wave {iii}, therefore no higher than 444$.
This analysis focuses on the current trend structure of Palo Alto Networks Inc., (PANW) utilizing the Elliott Wave Theory on both the daily and 1-hour charts. Below is a breakdown of the stock’s position and potential future movements.* PANW Elliott Wave Technical Analysis – Daily Chart*PANW is currently in Minute wave {iii} of an impulsive wave 3, with expectations for continued upside movement. After completing a large wave 2, the stock seems to have nested within a series of ones and twos in the early stages of wave 3. This suggests that a strong move to the upside is anticipated, as wave (5) is yet to unfold. Further gains are likely as the impulsive structure develops, confirming the bullish trend.* PANW Elliott Wave Technical Analysis – 1H Chart*On the 1-hour chart, PANW appears to be in wave {iv} of 3. An alternate scenario suggests that wave {iv} is forming a triangle, which would imply a consolidation period before the final leg up in wave {v} of 3. Since wave {v} must be shorter than wave {iii} (to maintain proportionality within the Elliott Wave framework), the upside target for wave {v} is capped at $444.Technical Analyst : Alessio BarrettaMore By This Author:Unlocking ASX Trading Success: V300AEQ ETF Units – Wednesday, Dec. 4
Elliott Wave Technical Analysis: Australian Dollar/U.S. Dollar – Wednesday, Dec. 4
Elliott Wave Technical Analysis: Vechain Crypto Price News For Wednesday, December 4
