Palo Alto Networks (PANW) stock rose in its recent intraday trading, despite the dominance of the main downward trend and the stock moving alongside a trend line supporting this path, while negative pressure persists due to trading below its 50-day simple moving average, which reinforces the surrounding downside pressure, as the stock attempts through this rise to ease some of its clear oversold conditions in the Relative Strength Index, especially with the emergence of a positive crossover.

Therefore we expect the stock price to decline in the coming trading sessions, as long as it remains below the resistance level at $165.00, targeting the key support level at $144.00.

Todays price forecast: Bearish