$PANW - RC -
Added 2023-11-16 05:47:23 +0000 UTC$PANW reported their earnings and although it was a double beat, it is down -5.5% in AH trading.
Can anyone see on the chart why a double beat like this would cause a decline?.....apart from it getting close to our Wave 5 target?
Look at the Wave 5 Fib level, it is the dreaded 4.618 Fib, which is the most extended Fib level for any chart......even $LLY and $NVDA who have been smashing their revenue projections have all struggled to get above this level, even $LLY now who is printing money after the success of its fat losing injections and has still not broken above its 4.618 Fib in nearly 2 months.
So my thoughts would be to prepare for a correction here shortly, there may be a few more test of the level but this is Wave 5 and this is the 4.618 Fib.....I do not see a lot more gains here in the short term.
