te22 - on PANW, after that earnings disaster gap, logically
bounced off the 200 day MA and retraced about 50% of the decline
before stalling at the 50 MA
Hard to say now, I mean first off after that gap down it was an
easy long bounce trade off that 200 day MA and the bounce stalled
near the 50. Price has since pulled back some, tough to say
if it forms a higher low here then bounces again or not. My guess
is that move off the 200 day MA was a wave A bounce, and this
pullback is a wave B, likely forms a higher low then moves up again
in C - but most likely not back to the highs but overall a lower
high as an ABC wave should
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Steve/Matt, It would be greatly
Follow Nancy
Posted by te22 on 4th of Mar 2024 at 04:56 pm
Steve/Matt, It would be greatly appreciated if you would provide your updated perspective on PANW, either here, or in the newsletter. Thanks much,
te22 - on PANW, after
Posted by matt on 4th of Mar 2024 at 06:06 pm
te22 - on PANW, after that earnings disaster gap, logically bounced off the 200 day MA and retraced about 50% of the decline before stalling at the 50 MA
Hard to say now, I mean first off after that gap down it was an easy long bounce trade off that 200 day MA and the bounce stalled near the 50. Price has since pulled back some, tough to say if it forms a higher low here then bounces again or not. My guess is that move off the 200 day MA was a wave A bounce, and this pullback is a wave B, likely forms a higher low then moves up again in C - but most likely not back to the highs but overall a lower high as an ABC wave should