Can Rally Continue?

8 мар. 2016 г.

After a triple top around $190 PANW dropped down to $110. Though PANW reported a loss for earnings on 2/25/16 they beat expectation and the stock rallied to the $152 resistance level. Since then price has created an almost perfect bull flag. If price continues to rally and defiantly break through the $152 resistance, I expect next stop to be in the 170area. Conservatives traders may want to wait untill the stock foes up with strong volum before buying. However, you can trade at the current price and have nice stop loss in play at the weekly low of $148 in case the trade goes agaisnt you