Global markets in panic as the Dow Jones plunged nearly 1,000 points on Monday of last week. The market sharply recovered the following day. For those of you following cybersecurity stocks, here’s an update of our short-term swing trading levels. Note that many of our previous targets had been reached. 

 

The following swing trading levels are reference points for traders to consider. As we provided levels for a long and short bias, the information is directionally neutral.

 

The levels are also ultra short-term, meaning that support and resistance targets are based on the nearest swing highs and lows. Typically, if a market is trending–in this case, trending in the short-term–price often hits the nearest target upon breaking out toward the upside or downside. 

 

But like all patterns, there is a failure rate, particularly during moments of market indecision, signaling consolidation or ranging activity. The levels provided don’t propose that a breakout will follow through toward hitting its target. Again, they are reference points for you to use should it help you in your own swing trading analysis.



Palo Alto Networks (PANW)

   

Swing High

214.39

 

Nearest Upside Target

230.53

reached 229.94 Aug 1

Swing High

229.94

new

Nearest Upside Target

238.48

new

Swing Low

196.94

new

Nearest Downside Target

178.80

 
     

Tenable Holdings (TENB)

   

Swing High

new pending

 

Nearest Upside Target

new pending

 

Swing Low

29.47

 

Nearest Downside Target

26.40

target hit Jul 31

     

Check Point Software Technologies (CHKP)

   

Swing High

113.31

new

Nearest Upside Target

118.00

new

Swing Low

114.59

 

Nearest Downside Target

108.59

target hit Aug 5

     

Fortinet (FTNT)

   

Swing High

84.20

 

Nearest Upside Target

88.34

target hit Jul 17

Swing High

92.79

new

Nearest Upside Target

85.89

new

Swing Low

78.85

new

Nearest Downside Target

74.67

new

     

Mimecast Limited (MIME)

   

Swing High

50.30

 

Nearest Upside Target

54.09

failed to hit target

Swing Low

46.95

 

Nearest Downside Target

44.63

target hit Aug 5

     

Qualys (QLYS)

   

Swing High

new pending

 

Nearest Upside Target

new pending

 

Swing Low

85.67

 

Nearest Downside Target

82.40

target hit Aug 2

     

Proofpoint (PFPT)

   

Swing High

127.78

 

Nearest Upside Target

131.43

 

Swing Low

122.16

active

Nearest Downside Target

110.09

 
     

The risk of loss in the trading of stocks, options, futures, forex, foreign equities, and bonds can be substantial and is not suitable for all investors. Trading on margin or the use of leverage is not suitable for all investors and losses exceeding your initial deposit is possible. Supporting documentation is available upon request. Trading futures, options on futures, and FX involves substantial risk of loss and is not suitable for all investors. Carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources and only risk capital should be used. Opinions, market data, and recommendations are subject to change at any time. The lower the margin used the higher the leverage and therefore increases your risk. Past performance is not necessarily indicative of future results.