Details: Looking for further upside into wave (5) as we seem to have completed a large wave 2 and then started to nest in what could be a series of ones and twos.

PaloAlto Networks Inc., (PANW) 1H Chart.

PANW Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave {iv} of 3.

Direction: Upside in wave {v}.

Dteails: Here’s an alternate highlighting the possibility we are in a triangle in wave {iv}, and we are headed higher into wave {v} of 3 which has to be shorter than wave {iii}, therefore no higher than 444$.

This analysis focuses on the current trend structure of PaloAlto Networks Inc., (PANW) utilizing the Elliott Wave Theory on both the daily and 1-hour charts. Below is a breakdown of the stock's position and potential future movements.

PANW Elliott Wave technical analysis – Daily chart

PANW is currently in Minute wave {iii} of an impulsive wave 3, with expectations for continued upside movement. After completing a large wave 2, the stock seems to have nested within a series of ones and twos in the early stages of wave 3. This suggests that a strong move to the upside is anticipated, as wave (5) is yet to unfold. Further gains are likely as the impulsive structure develops, confirming the bullish trend.

PANW Elliott Wave technical analysis – 1H chart

On the 1-hour chart, PANW appears to be in wave {iv} of 3. An alternate scenario suggests that wave {iv} is forming a triangle, which would imply a consolidation period before the final leg up in wave {v} of 3. Since wave {v} must be shorter than wave {iii} (to maintain proportionality within the Elliott Wave framework), the upside target for wave {v} is capped at $444.

Technical analyst: Alessio Barretta.

PANW Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD recovers to 1.1750 region as 2025 draws to a close

Following the bearish action seen in the European session on Wednesday, EUR/USD regains its traction and recovery to the 1.1750 region. Nevertheless, the pair's volatility remains low as trading conditions thin out on the last day of the year.

GBP/USD stays weak near 1.3450 on modest USD recovery

GBP/USD remains under modest beairsh pressure and fluctuates at around 1.3450 on Wednesday. The US Dollar finds fresh demand due to the end-of-the-year position adjustments, weighing on the pair amid the pre-New Year trading lull.

Gold retreats to $4,300 area, looks to post monthly gains

Gold stays on the back foot on the last day of 2025 and trades near $4,300, possibly pressured by profit-taking and position adjustments. Nevertheless, XAU/USD remains on track to post gains for December and extend its winning streak into a fifth consecutive month.

Bitcoin, Ethereum and XRP prepare for a potential New Year rebound

Bitcoin, Ethereum, and Ripple are holding steady on Wednesday after recording minor gains on the previous day. Technically, Bitcoin could extend gains within a triangle pattern while Ethereum and Ripple face critical overhead resistance.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).