The gutfeel swing trade
- Thread starter Zwaen
- Start date
PE 50
If it's a swing trade your target is $316
The problem is this-- earnings. they will not be good. I have made several mistakes in this sector. I thought that the very last thing companies would do is cut back on cyber security. I was wrong, last reporting period there were signs of less corporate tech buying in several of these names./ I expect the same for PANW.
These disgusting insiders are selling every day.
If it's a swing trade your target is $316
The problem is this-- earnings. they will not be good. I have made several mistakes in this sector. I thought that the very last thing companies would do is cut back on cyber security. I was wrong, last reporting period there were signs of less corporate tech buying in several of these names./ I expect the same for PANW.
These disgusting insiders are selling every day.
Here's a Swing I am using.
CHDN. PE 20 // Heavy institutional buying // Derby coming up soon.// Will beat earn.
ST Target $135+
CHDN Churchill Downs Incorporated
$118.75-0.21(-0.18%)
CHDN. PE 20 // Heavy institutional buying // Derby coming up soon.// Will beat earn.
ST Target $135+
CHDN Churchill Downs Incorporated
$118.75-0.21(-0.18%)
I respect your chart, and certainly your opinion... but if you extend it out to 3 years, it looks to me like it got temporarily waay ahead of itself, but is now consolidating at another higher stair-step.
Imo, when applying TA over an extended time-frame, one also has to consider the sector as applied to the bigger picture. Now after a precipitous sell-off such as this stock underwent from those crazy highs, most of the big sellers are probably gone and it is consolidating for another stair-step up.
I think it has $320 in it easy over the next 6 months. The tide has went out on tech obviously over the last week or so, and all in all PANW has held its ground pretty well. But we'll see. And again... the sector. Cyber-defense is experiencing a modern day arms race, and I don't see the battlefield getting any better.
Why is this chart getting a thumbs up when it is just a very rudimentary form of the chart I posted? He calls the chart "damaged" and I explain why it is a correction and not a pullback.
He incorrectly labels it a trading range when it is an ABC correction.
He gives no reason as to why buying here would be a melting ice cube.
No, long.
Outlook far longer(3M-12m), see posts before