Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
Technical Analyst, Saxo Bank
CrowdStrike CRWD is opening approx. 22% after earnings release just around the 1.382 projection of the February correction at 363.39
If closing above previous all-time high at 338.45 PANW will have cancelled the top and reversal pattern it had formed on the weekly chart.
That will give CRWD short- to medium-term upside potential to 378-404
Palo Alto Networks PANW has been struggling since its earnings release 20th February. After an initial sell-off down to the 200 DMA is has enjoyed a nice bounce but sellers are again back in control.
A close below 282 is likely to fuel another sell-off down to 261.74 support. However, it could drop lower to the strong support at around 233.80
For PANW to establish an uptrend a close above 327.57 is needed. If that scenario plays out it needs to close the gap up to 359.12. That could be a struggle with the strong resistance area 318-327