Palo Alto price trapped in a hesitant place - Forecast today - 01-04-2024

Palo Alto Networks Stock Analysis

• Intraday levels of Palo Alto Networks’ stock (PANW) saw a slight increase after aligning with the upward short-term trend line, providing the stock with positive momentum.
• However, negative pressure was exerted by trading below the 50-day SMA, along with negative signals from the RSI after reaching overbought levels, limiting potential gains.

Forecast and Analysis

Given the current trends and indicators, we anticipate the stock to advance and target the resistance level of $318.00.

If the support level of $276.80 remains intact, it would bolster this bullish outlook.

Trend Forecast

Likely Bullish