Palto Alto Networks - New uptrend

1 nov 2019

Technical Analysis

• We are breaking a previously tested resistance at $230.
  
  
• To enter the new channel, we probably need to close above $235.
  
  
• OBV is at all time highs.
  
  
• RSI(10) 72, has been following setting lower lows and higher highs.
  Overbought can continue to be overbought.
  
  
• Check risk reward ratio in-chart.
  ** I would wait for a breakout to the new channel, or at least a pullback to the $230 now new support.