Palo Alto Networks: #PowerStocks Series Pick Of The Week (February 2024)

My heart is beating faster than usual. But I'm not exercising. Instead, I'm lying on my bed. All that happened in the past 4 hours was playing back in my head. It's 2 in the morning. Have you felt the same way after attending a seminar? Regardless of whether I was an attendee or presenter, I'd face this once I got home. I'm eternally grateful for the 100 Swim Traders at our 1st seminar of the year. The years of hard work weren't in vain. As I reflect on the seminar and my journey, let's review last week's stock pick: Corebridge Financial (CRBG).

Review Of Last Week's Pick Of The Week

The share price of Corebridge Financial had pulled back a tiny bit before rising to form new all-time highs. I think that this rise is unsustainable, and a reversal should be here sooner than later. Why? Did you notice that its share price had closed lower than its open price for the entire week despite rising? This is a sign of impending weakness. Its share price could still drop to ~$23, a strong support area. It's safer to buy its shares there for an explosive swing trade. You may consider applying the Art of Explosive Profits strategy when this happens. With that, why is Palo Alto Networks (PANW) our #PowerStocks pick of the week?

Why Is Swing Trading Palo Alto Networks (PANW) Worth It?

Source: investors.paloaltonetworks.com

Palo Alto Networks (PANW), this week’s #PowerStocks pick, provides network security solutions to enterprises, service providers, and government agencies. Optimism runs high as traders and investors snap its shares, resulting in a strong uptrend. In addition, its share price movement has been explosive, allowing traders to enjoy a return of 5% or more in a short duration! So, let's dive right in! P.S.: What if I told you that you could drastically gain control over your emotions of fear and greed, and master the stock market in a short period of time? My team and I have worked tirelessly to help you achieve results fast. Click on the banner below to claim your stock course for free (limited time) now!

Performance Of US Stock Market vs Palo Alto Networks (PANW)

The S&P 500 is the benchmark for stock performance, so comparing the stock you'll want to trade against it makes sense. And by trading the stronger stock, your chances of getting outsized returns are increased. What are the 2 pointers you notice from the comparison chart above? Yes, the performance of Palo Alto Networks' shares is much stronger than that of the S&P 500. Besides, its shares are trending higher and higher. Therefore, you'll want to continue your analysis of its shares.

How Explosive Is Palo Alto Networks (PANW)?

Here's the most exciting part. How explosive has its shares been? In a span of 10 months, the share price of Palo Alto Networks has rocketed 17 times! Enjoying a huge market capitalization of nearly $108b, its up moves between 5.5% and 23.6% are eye-popping. Knowing its share price can explode, the next question is, "Should you buy its shares now?"

Key Price Levels

Let's seek to answer your question by uncovering its key price levels (yes, they are also known as support and resistance). Can you spot a support area ~$315? As its share price shows clues of pulling back, its shares could drop to ~$315 before bouncing higher. So, that's where you'll want to be eyeing for an entry for a swing trade. Finally, this is for educational purposes. Please perform your due diligence. All images are taken from pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com, unless otherwise mentioned.

Claim Your Free (Limited Time) Stock Course Right Now:

The stock market is full of traps laid out by professional traders. Many new traders are often left confused by conflicting signs and signals. Worse still, ~80% of traders lose money. This is because trading isn't just about skill alone. It includes the mastery of your emotions. But what if I told you that you could quickly gain control over your emotions of fear and greed and master the stock market? My team and I have worked tirelessly to help you achieve results fast. Click on the banner below to claim your stock course for free (limited time) now!