Get Security! In your account

• Posted by Greg Harmon
• on April 14th, 2015

Security stocks have been on fire. And with that many have just kept going up. This often does not give you an opportunity for a good entry. But as you watch the price history in many of these ad other fast rising stocks, you can see that they give you opportunities to buy along the way quite often.

one of these opportunities is showing up now in Palo Alto Networks ($PANW). The stock has had a strong run higher, and you can see the rising trend support since October. But it also shows several bounces off of resistance above since the beginning of March.

This happened in January into February as well before the last leg higher. In fact it is typical of trending stocks. They pause to create a new equilibrium before a new round of buyers show up pushing it higher. For Palo Alto, this has happened near the support line, which it touched recently, and when the Bollinger Bands® have tightened like now.

Notice also that the MACD has reset to near the level where a new leg higher has started in the past. All the while the RSI has held in the bullish zone. Looking at the latest consolidation would suggest a move to 163 on a break over 149 for a next leg higher. Keep your eyes on this one.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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