Palo Alto Networks Resumes Uptrend with High Volume Signal

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

Network security company Palo Alto Networks is resuming its uptrend with a flag breakout on twice its average volume. PANW surged to a new high earlier this year and pulled back with a flag the last few weeks. Notice that broken resistance turned into support in the 58 area. The stock firmed with a harami on Monday-Tuesday and broke out on Thursday. This breakout signals a continuation of the bigger uptrend and projects a move to new highs.

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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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