“AI Safety Warnings Surge Cybersecurity Stocks: PANW, CRWD, OKTA Key Levels”
PANW faces a key resistance test at $374.18; success requires maintaining the parallel channel and breaking the declining trend line to target new highs, otherwise it risks a breakdown.
Next up into PNW. Now, this is where all the inflow of capital went today. Cyber security stocks. Now, if we look at PanW, we were on the verge of a breakdown on PanW. You can see this from the inclining parallel channel contained from May of this year.
We've had price really do a good job maintaining within it all up until right here on September 2nd when we drop beneath, put in bearish consolidation. And then the news this weekend was the defiill PanW needed right now at this time to get back into that parallel channel, but it did not push past this declining trend line. So that right now is the line in the sand.