PANW: Following a Rhythmic Path Within a Clear Trend

What we're looking at on this weekly chart for PANW is a very clear and structured uptrend, essentially a roadmap for the stock's price. The entire movement is contained within a well-defined ascending channel, which is broken down into three key zones:

1. The Lower Green Band (around 150): This is the "Strong Support" or the ultimate buy zone. Historically, whenever the price has pulled back to this level, buyers have stepped in aggressively, marking a significant bottom.
   
2. The Upper Red Band (around 210): This is the "Strong Resistance" or the primary sell zone. When the price gets up here, it tends to run out of steam, and sellers take control, pushing the price back down.
   
3. The Middle Grey Band (around 180): This acts as the market's centerline or "1st support." It's a pivot area that the price frequently interacts with.
   

The most interesting feature highlighted here is the cyclical or rhythmic pattern of the price action, marked by the red ovals. The chart shows a recurring theme: the stock rallies toward the upper red resistance, gets rejected, and then experiences a sharp, multi-week pullback.

Putting it all together:
The chart suggests that PANW is currently in the middle of one of these pullback phases after being rejected from the upper part of its channel. The analyst has laid out a potential scenario based on this historical rhythm:

• The price may continue its descent, potentially breaking the 180 1st support level.
  
• The ultimate target for this pullback would be the 150 Strong Support zone, where the stock has historically found its footing.
  
• From there, the pattern would suggest a new rally could begin, with an initial target back up towards the 196 Key resistance area.
  

In short, while the long-term trend is up, the chart implies the current correction may have more room to run before the next major buying opportunity presents itself around the 150 level.

Disclaimer:
The information provided in this chart is for educational and informational purposes only and should not be considered as investment advice. Trading and investing involve substantial risk and are not suitable for every investor. You should carefully consider your financial situation and consult with a financial advisor before making any investment decisions. The creator of this chart does not guarantee any specific outcome or profit and is not responsible for any losses incurred as a result of using this information. Past performance is not indicative of future results. Use this information at your own risk. This chart has been created for my own improvement in Trading and Investment Analysis. Please do your own analysis before any investments.