Palo Alto Networks, Inc.s stock price (PANW) slipped lower in latest intraday trading, after failing to breach the pivotal resistance level of $207.25, which exposed the stock to increased negative pressure. This led to a break below a short-term rising trend line, accompanied by a notable surge in trading volumes technically confirming the breakdown. The move also took the price below the 50-day SMA, adding further to the surrounding bearish pressure.

Therefore we expect the stock to decline further in upcoming trading, especially if it stabilizes below the support level of $194.40, targeting the next support at $180.70.

Todays price forecast: Bearish