OptionsPlay DailyPlay

The bearish DailyPlay we chose for Friday July 8th is Palo Alto Networks (PANW). PANW is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 1.22% move lower and has consistently failed to reach new highs this past month.

Palo Alto Networks’s 1m and 6m trends turned bearish on 6/7 and recently broke below its $128 support level on high volume. With a technical score of 1 (out of 10), PANW looks positioned to continue this strong bearish trend lower.

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