Cybersecurity Solutions Leader Set to Rally Through Value Area
Palo Alto Networks (PANW) shares of the cybersecurity solutions leader closed back inside monthly value area on Tuesday and at highs of day as it has triggered a bull MACD cross now with the recent flag starting to resolve higher above YTD VWAP and the 55 day EMA clustered near 185. PANW has room to run up to the top of value which coincides nicely with the 200 round number. A stronger upside push likely retests the all time high of 208 as the cyber software group continues to show solid relative strength. PANW still has the massive buyer in OI of 3000 August $175 ITM calls bought at $33.28, near $10M from back on 2/7.