Palo Alto Networks Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Thursday for Palo Alto Networks Inc
(Updated on Apr 25, 2024)
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $302.38 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -22.71% during the next 3 months and, with a 90% probability hold a price between $152.63 and $233.71 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PANW Signals & Forecast
The Palo Alto Networks Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $284.85 and $281.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 21, 2024, and so far it has risen 10.24%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Palo Alto Networks Inc stock
Palo Alto Networks Inc finds support from accumulated volume at $282.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $8.53 between high and low, or 3.03%. For the last week, the stock has had daily average volatility of 2.85%.
Our recommended stop-loss: $281.05 (-2.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (PANW) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Palo Alto Networks Inc to open at $286.85, and during the day (based on 14 day Average True Range), to move between $280.42 and $297.16, which gives a possible trading interval of +/-$8.37 (+/-2.90%) up or down from last closing price. If Palo Alto Networks Inc takes out the full calculated possible swing range there will be an estimated 5.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $282.09 (2.32%) than the resistance at $302.40 (4.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Palo Alto Networks Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.347 Buy Candidate Unchanged
Predicted Opening Price for Palo Alto Networks Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $286.85 ( 0.671%) | $288.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PANW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 295.38 | 2.28 % | |
| R2 | 292.12 | 1.15 % | ||
| R1 | 290.11 | 0.458 % | ||
| Current price: | 288.79 | |||
| Support | S1 | 283.59 | -1.80 % | |
| S2 | 281.58 | -2.50 % | ||
| S3 | 278.32 | -3.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 314.75 | 8.99 % | |
| R2 | 302.78 | 4.84 % | ||
| R1 | 302.40 | 4.71 % | ||
| Current price | 288.79 | |||
| Support | S1 | 282.09 | -2.32% | |
| S2 | 267.82 | -7.26% | ||
| S3 | 261.97 | -9.29% |
FAQ
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