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Palo Alto Networks ended the session at $199.44, up 0.79%, adding another to its 6th straight day of gains

16 April 2023

PANW

A quick look at Friday: Palo Alto Networks ended Thursday at $197.87. Friday it went up to $199.85 only to drop back, yet still managed to close at $199.44.

Palo Alto Networks, Inc. made an initial breakout above its 10 day Simple Moving Average at $195.09, a potential indicator of a newly emerging bullish phase. In contrast, Palo Alto Networks could be slowing down soon as it approaches resistance at $202. Of course, crossing it might suggest further gains are ahead. Palo Alto Networks's upper Bollinger Band® is at $200.27, this is a slight indication of a slowdown.

According to technical analysis, it looks as if Palo Alto Networks likely to continue pointing upward in the short term.

A look at other technology stocks also showed bullish price action as NVIDIA was up 1.11%.

Palo Alto Networks went up Friday, yet these technology stocks did not follow — Accenture plc Class A (Ireland) lost 2.11% Friday and closed at $279.25. Microsoft went down 1.28%, closed at $289.84.

The stock has been trending positively for about 3 months. The cybersecurity company reached a significant high of $628.56 around 11 months ago but has lost 68.52% since then.

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