Thursday, October 09, 2014

Chart of the day: PANW

Yesterday I entered PANW as a swing trade based off the strong closing hammer that printed after a support violaiton.

While the market tanked today, and took just about every stock with it, PANW actually was up slightly.  This market has shown respect to stocks like PANW that have strong price and volume patterns.  This is the type of stock that could really move if and when the market regains it's footing.

The key theme to think about when looking for longs in this market is relative strength.

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