The trend regains steam as ADX climbs
Palo Alto Networks stock rebounds 2.5% as ADX signals the trend regaining steam
The trend regains steam as ADX climbs
Our view last week
Palo Alto Networks' buy signal took a sharp hit this week: the stock gave back 9.7%, with sellers controlling 95% of the volume, after last week's 10.1% surge. Palo Alto Networks shares still sit above every structural moving average, with price boxed into a tight band between the 322 and 325 areas. The trade, under management for 19 weeks, remains up more than 93%.
This week's summary
After last week's sharp hit, when it gave back 9.7% with sellers controlling 95% of the volume, Palo Alto Networks stock is climbing again: +2.5% in a week dominated by buyers, who controlled 92% of the volume. ADX climbs to 41.9, a sign the trend is regaining conviction, while on the daily chart the stock just bounced 7% off its 20-day moving average. Palo Alto Networks shares remain boxed between the 328 and 336 areas, in a technical analysis picture that still calls for patience.
IQS Phase
59
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#36 / 120
US stocks in progress
Trade P&L %
+98.68%
from signal to date, no stop loss
Rank position
ranks 36th among the 120 Longs already running for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -0.30% · monthly -5.53%
PANW belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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