- Palo Alto Networks, Inc. stock has given a return of around 6% last week.
- PANW stock does not pay dividends to its shareholders.
- The technical summary widget is showing a sell signal on PANW stock.
Palo Alto Networks, Inc. (NASDAQ: PANW) is a global provider of cybersecurity solutions. Their product range includes firewall appliances, firewall software, and Panorama, a security management solution that enables comprehensive control over network security platforms, available in both virtual and physical appliance formats.
The PANW stock is currently experiencing a downfall after hitting an all-time high. The price is forming a pattern of lower lows and is reversing the resistance levels.
PANW stock is currently trading at $228.7, with a share float of 303 Million. The net cash of the company has declined by 46.2% YoY. Free cash has also shown a decline of 22.2% and operating cash flow has fallen by 0.9%.
PANW stock reached its peak at $258.88 in July 2023 but subsequently faced a downtrend. By mid-August 2023, the stock had declined by more than 20% and found support around the $208 mark. It attempted a brief pullback, bringing the price close to its previous high. However, this momentum proved to be short-lived.
Currently, PANW stock is on a downward trajectory following its attempt to breach the resistance level. It is anticipated that the price may fall until it reaches a support level. If the price breaks below this level, a potential trend reversal could be in the offing in the coming days.
Palo Alto Networks, Inc. (PANW) Stock Price Analysis
PANW by writer50_tcr on TradingView.com
The recent price movement of PANW stock has led to it falling below both the 100-day and 200-day exponential moving average (EMA) levels. This is a bearish indication.
Moreover, the relative strength index (RSI) line is presently around the 35 level and is positioned below the simple moving average (SMA) line. This arrangement signifies a negative crossover. It implies the emergence of a bearish pattern in the stock. Consequently, there is a potential for further price declines.
The moving average convergence divergence (MACD) line has undergone a crossover below the signal line, giving rise to a red histogram. Both lines are also positioned beneath the zero line. Collectively, these findings point to a negative trend in the stock price, further underscoring the possibility of price depreciation in the future.
Conclusion
Based on the analysis, it can be observed that Palo Alto Networks, Inc. stock is currently following a downward direction. The price is trading below the EMA levels and there is a formation of a red histogram in the MACD. This represents a weakness in the stock. The price is currently forming a negative pattern and it is expected to fall until the immediate support level.
Technical Levels:
· Support Level– $208
· Resistance Level- $257
Disclaimer
The views and opinions of the author or anyone in this article are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.