Following up on Halifax America’s coverage of stocks in the cybersecurity sub-industry, the following consists of technical swing levels, all of which aim to present a dual-biased directional view, each presenting potential breakout points, and potential profit targets and stop levels for both long and short trades.

Disclaimer: This piece is a merely a “technical” supplement for those who are willing to conduct their own fundamental analysis of the stocks covered. These are not trading recommendations.

All trends are assumed immediate or short-term trends. Breakouts and targets are determined using strict price action levels–swing highs and swing lows (or for some of you TA geeks, “fractals”).

 

Palo Alto Networks (PANW)

 

Short-Term Trend: Down

Upside Breakout Level: 191.92

Upside Target 1: 199.14

Upside Target 2: 207.70

Upside Bias Invalid: 175.43

 

Downside Breakout Level: 175.43

Downside Target: 160.83 (Jan 29, 2018 resistance)

Downside Bias Invalid: 191.92

 

ZScaler Inc (ZS)

 

Short-Term Trend: Upward breakout

Upside Breakout Level: 39.40 (in progress)

Upside Target: 43.14

Upside Bias Invalid: 33.00

 

Downside Breakout Level: 33.00

Downside Target: 30.50

Downside Bias Invalid: 39.40

 

Okta (OKTA)

 

Short-Term Trend: Down

Upside Breakout Level: 60.96

Upside Target 1: 62.92

Upside Target 2: 72.97

Upside Bias Invalid: 50.80

 

Downside Breakout Level: 50.80

Downside Target: 47.15

Downside Bias Invalid: 60.96

 

Qualys Inc (QLYS)

 

Short-Term Trend: Down

Upside Breakout Level: 78.45

Upside Target 1: 82.90

Upside Target 2: 90.75

Upside Bias Invalid: 70.70

 

Downside Breakout Level: 69.55

Downside Target 1: 68.20

Downside Target 2: 65.05

Downside Bias Invalid: 78.45

 

Fortinet Inc (FTNT)

 

Short-Term Trend: Down

Upside Breakout Level: 84.00

Upside Target: 94.35

Upside Bias Invalid: 76.02

 

Downside Breakout Level: 76.02 (in progress)

Downside Target 1: 68.80

Downside Target 2: 62.27

Downside Bias Invalid: 84.00

 

Halifax America LLC is now shifting toward coverage of stocks in disruptive industries including cybersecurity, artificial intelligence, and IoT. If you would like to receive Halifax America’s free weekly newsletter, which covers these industries and more, please send an email to info@halifaxamerica.com.

 


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