Update: Directional brainfarts: looks like it can start moving in the anticipated direction. However, a few posters who I respect for their opinion are teasing me with their bearisch macro views. For now I'm staying in this long delta position, but keep an eye to possible change this position in coming 1-2 weeks. Anticipating a nice week up for now. If true, get out by end of the week and/or lighten up substantially.
Update what? I told you its an ABC. ?? Yes this is what I would be doing as well. I'm the only directional trader on here...everyone else is just support resistance.
Fwiw, flattened position yesterday, sidelines until a lower entry point comes by, or miss this trade. Didn’t like the weak behavior relative to the indices (yeah, brainfart stuff).
UPDATE- PANW traded at $290 yesterday. Today CRWD appears to have good numbers and it's doing well. You could look at that and say AI spending is not slowing them down at all.. or perhaps they are specializing in some fashion in AI and this CRWD strength could come at the expense of PANW. I think in PANW's favor is that they already warned and talked of a slowdown- so that's out there.. and they have some deferred billing that should show up next report. The TA here will be super important. Don't really know how I feel anymore.
Near term. Yes on the TA. For sure. And near term certainly matters for trading. Long term, they're both good. PANW is the best in breed. Tbh yesterday I thought about writing "it's my favorite tech stock now." And it kinda is. When I first saw your post here (above)... I thought you were trolling me since you rarely post outside of GBA... but then I read it. Because you were gonna get a "How's you're COIN at $170 target from last week looking."
In my unconscious search for confirmation bias my eye fell on this: I noticed the defense sector in my own (European) country was very actively recruiting about 1-2 years ago, it has slowed down now though. Recruiting is a mid- to long term view, imho. Breakout coming to fill that gap (at least)? Looking for positioning for that. The weekly chart looks bullish (just like it did at the arrows..)
I think/ thought this one is going to break out for a minimum test to around let’s say 330 somewhere next week. So a little squeeze up to get the shorts out who went for a trendline test. Established a new long position Wednesday.Ofcourse immediately the day after down, but yesterday’s strong performance reestablished my gutfeel belief/gambling/randomness The random points 345 and 365 would be other points where some profit taking could occur, but 330 would be first point to take some profit (if it gets there at all)