An influx of buyers helped the cybersecurity company to end the session higher around $158.64, while establishing a $157.46 to $159.55 session range yesterday.
- United States ADP Nonfarm Employment Change (Jan) is next today at 13:15 UTC.
- Palo Alto Networks has increased a total of $23.44 over the past 14 days, with yesterday's session contributing to the uptrend.
Earlier data releases related to Palo Alto Networks – highly important Consumer Confidence data from United States beat analyst expectations of 109 with a reading of 107.1. United States API Weekly Crude Oil Stock came out at 6.33 million, while a consensus of analysts was expecting -1,000,000.
Technical analysis of Palo Alto Networks before macro data is released:
Palo Alto Networks, Inc. could be slowing down soon as it approaches resistance at $159.64. Of course, crossing it might suggest further gains are ahead. Despite posting gains on yesterday, Palo Alto Networks slid below its 3 day Simple Moving Average at $158.84 during the last session — an early indicator that a negative trend could be emerging. Palo Alto Networks's upper Bollinger Band® is at $163.21, this is a slight indication of a slowdown.
Technical analysis suggests there could be an imminent reversal for Palo Alto Networks.
Coming up for Palo Alto Networks — as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 376,000, following on from the preceding figure of 533,000. New data is set to be published today at 15:30 UTC. United States ADP Nonfarm Employment Change (Jan) scheduled to come out today at 13:15 UTC.
As the markets get ready for more data to be released — Microsoft traded at $247.81 after closing yesterday's trading day at $242.71 (up 2.1%). Accenture plc Class A (Ireland) traded at $279.05 after closing yesterday's trading day at $274.32 (up 1.72%). SAP was up 2.1%.
The cybersecurity company has shed 68.89% over the past six months.