Hi Marty,
I managed to pick some PANW at 578.75 yesterday. I am going to use a stop of 5% but after the move yesterday might move stop to break even.
What would be a good profit target? It is at 52 week high with elevated volume and only breaking out of a 9 week base last week so hopefully it can run a bit more?
===============================================================
Kimon,
That is a good entry price! This stock is showing relative strength, and has been a leader in the cybersecurity space for some time. The volume has been strong during this breakout.
Yes! Move up your stop loss to ensure a winning trade. Let's see how the stock handles that psychological $600 level. I am expecting resistance at that level. But, if it rips through the $600 level this week, you may have a tiger by the tail.
The Russia-Ukraine conflict is helping this stock right now. But, we do not know how much. We do know it is a leader, and performed well prior to any geopolitical news. I really like that weekly chart.
There are quite a few members of this community who are now long this stock. It is always best to stick with the leaders.
Regards,
Marty
