PANW.US - Our expectations - rising major long-term trend. Correction to diagonal support.
Formation of a trend reversal formation - Head and Shoulders pattern - price on the neckline.
Creating a Gap + Inside Long Bar - Contradictory Signals.
Death cross of 50 + 200 SMA - negative signal.
Purchase scenario: If the price keeps its levels and rebounds from long-term support, the main trend will continue. 38.2% of Fibonacci is also at these levels. Then, we can take long positions with a stop of 190.41.
Sales scenario: Break below the line will activate the trend-reversal formation. At this level is the main diagonal, which makes it even more significant. This key breakthrough will accumulate massive sales that will drive downward movement. Stop the deal about 211, over the shoulder of the figure. H&S target = 158.90
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