PANW Elliott Wave technical analysis [Video] | BinanX News

PANW Elliott Wave Analysis Trading Room.

PaloAlto Networks Inc., (PANW) daily chart.

PANW Elliott Wave Technical Analysis

Function: Trend.

Mode: Impulsive.

Structure: Reason.

Position: Minute {iii}.

Address: Raise within {iii} of 3.

Details: We are looking for more upside to wave (5) as it looks like we have completed a big wave 2 and then started to nestle into what could be a series of ones and twos.

PaloAlto Networks Inc., (PANW) Chart 1H.

PANW Elliott Wave Technical Analysis

Function: Trend.

Mode: Impulsive.

Structure: Reason.

Position: Wave {iv} of 3.

Address: Upwards in wave {v}.

Details: Here is an alternative that highlights the possibility that we are in a triangle in wave {iv}, and we are heading towards wave {v} of 3, which has to be shorter than wave {iii}, therefore, not exceeding $444.

This analysis focuses on the current trend structure of PaloAlto Networks Inc., (PANW) using Elliott Wave Theory on both the daily and 1-hour chart. Below is a breakdown of the stock’s position and possible future moves.

PANW Elliott Wave Technical Analysis – Daily Chart

PANW is currently in the minute wave {iii} of an impulse wave 3, with expectations of continued bullish movement. After completing a large wave 2, the stock appears to have nested within a series of ones and twos in the early stages of wave 3. This suggests that a strong bullish move is anticipated, as wave (5) is yet to complete. has developed. Further gains are likely as the impulse structure develops, confirming the bullish trend.

PANW Elliott Wave Technical Analysis – Chart 1H

On the 1-hour chart, PANW appears to be in wave {iv} of 3. An alternative scenario suggests that wave {iv} is forming a triangle, which would imply a period of consolidation before the final bullish leg of wave { v} of 3. Since wave {v} must be shorter than wave {iii} (to maintain proportionality within the Elliott wave framework), the bullish target of wave {v} has a limit of 444 dollars.

Technical analyst: Alessio Barretta.

PANW Elliott Wave Technical Analysis [Video]