Palo Alto Networks (PANW) Just Overtook the 200-Day Moving Average
After reaching an important support level, Palo Alto Networks (PANW) could be a good stock pick from a technical perspective. PANW surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average is widely-used by traders and analysts, and helps establish market trends for stocks, commodities, indexes, and other financial instruments over the long term. The indicator moves higher or lower together with longer-term price moves, serving as a support or resistance level.
Shares of PANW have been moving higher over the past four weeks, up 22.4%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that PANW could be poised for a continued surge.
Looking at PANW's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on PANW for more gains in the near future.
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Palo Alto Networks, Inc. (PANW) : Free Stock Analysis Report
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