Looking for some security in a tough market? Try Palo Alto Networks (PANW). (April 09, 2015)
Palo Alto Networks ( NYSE:PANW ), an IT security firm, it’s kind of the “big dog” in the space, is really forming this nice kind of a tight consolidation pattern. It’s really in a squeeze, about 7 percent distance between the upper and lower Bollinger Bands, so it’s not quite in a squeeze, at least what I categorize a squeeze as, but pretty darn close, and you can see what happened the last time this thing “squoze”. The pop was pretty messy if you were short, not too many folks are short here.
This company does not announce earnings until between May 6th and June 1st. How do I know that? Because I get on Yahoo Finance, which is a fine website for financial news on the world wide interweb, so that’s what they’ve got; this is going to take a while. My bet is this stock will not be at 146.00 on May 26th. It looks to me like it’s likely to go higher. And so what I’m going to do for members here, you home gamers can do this on your own software; if the stock starts trading above 150.00 that’s likely to lead to much higher prices between now and then.
So watch this 150.00 level, this last high was 150.44 so I just want to know; in fact I’m going to set it on my personal software as well, which is TeleChart, which is a fine software program. Okay, $150.00, so I’m going to look at this and when this stock trades above 150.00 that’s the signal that this consolidation, which has really been going on for how long? For a couple months, 11/2 months, it’s gone on for a while but this consolidation has run it’s course and this stock is ready to move higher again.
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