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Palo Alto Networks (PANW) Downtrend Breakout Shaping Up

Palo Alto Networks (PANW) Downtrend Breakout Shaping Up

by | Jan 31, 2022 | Chart SetUps

Palo Alto Networks (PANW) name that has shown relative strength recently during the tech rout and now nearing a breakout of a downtrend above $520 with room to run above to $550. Shares pulled back to VWAP from the May 2021 earnings gap higher and put in a nice base and pivot higher. And, looking ready to run with momentum inflecting higher as MACD and RSI both near a bull cross.