PANW: Palo Alto Networks Inc - Stock Price, Quote and News
Shares of Palo Alto Networks Inc fell from $616.47 to $608.23 on the last day (Friday, April 8, 2022) -1.34%. During the day, the stock has surged 1.78% from a daily low of $603.47 to a daily high of $614.22. The price has fallen in 6 of the past 10 days, dropping -2.28% during that time. Volume fell with the stock on the last day, which is actually a good sign since volume should follow the stock. On the last day, volume decreased by -160,000 shares, with 953,000 shares traded for approximately $579.87 million.
The stock is in a broad and strong short-term uptrend, and further gains in the trend are signaling. Given the current short-term trend, the stock is expected to gain 26.29% over the next 3 months, with a 90% chance of holding between $689.55 and $804.03 by the end of that 3-month period.
Signals and Predictions
Palo Alto Networks Inc stock is holding a sell signal from the short-term moving average; however, at the same time, the long-term average is giving a buy signal. The stock has a bullish outlook as the short-term average is above the long-term average, with buy signals prevailing. Any further gains would see the stock encounter resistance near the short-term moving average at $616.34. On the decline, the stock found some support near the long-term average of $574.17. A breakout of the short-term average gives a buy signal, while a break of the long-term average gives a sell signal. Also, a buy signal from the 3-month moving average convergence-divergence (MACD). There are also some negative signals that may have some impact on recent developments. On Monday, April 4, 2022, a sell signal was issued from the top of the pivot, down -3.16% year to date. The display drops further until a new lower pivot is found. On the last trading day, volume falls with price, which reduces overall risk because volume should follow price.
Support, Risk and Stop Loss
Palo Alto Networks Inc is finding support from accumulated volume at $594.25, a level that could provide a buying opportunity as a bullish reaction is expected if the support level is tested.
The stock's intraday trend is average, the volume is high, and the risk is medium. On the last day, the stock moved between the high and the low of $10.76, or 1.78%. The stock's average daily volatility over the past week was 2.54%.
Our recommended stop loss: $579.20 (-4.77%) (This stock has medium daily volatility and therefore medium risk. It sends a sell signal from the top of the pivot found 4 days ago.)
Is Palo Alto Networks Inc stock a buy?
Several short-term signals, as well as the general uptrend, are positive, and we conclude that current levels may present a buying opportunity, as Palo Alto Networks Inc stock has a good chance of performing well in the near term. We have upgraded our analysis of this stock to Buy from Hold/Accumulate since our last rating.