In our September 19, 2025 report, we noted that Palo Alto Networks Inc. (PANW) was approaching a key technical inflection point after spending much of 2024 and 2025 consolidating between $140 and $200. At that time, we highlighted strengthening relative performance within the SIA NASDAQ 100 Index and SIA S&P 500 Index Reports, along with improving momentum and volume patterns that suggested a potential breakout was developing.
Since that report, shares of PANW have followed through decisively, breaking above the upper boundary of resistance near $200–$211 and confirming the long-term bullish setup outlined earlier. This breakout was accompanied by a notable increase in trading volume and expanding relative strength prior to the breakout, both key technical confirmations of renewed investor demand.
The weekly candlestick chart now shows a clear transition from consolidation to breakout, with prior resistance in the $200–$211 zone beginning to act as a new support base. In September, we used the long-term 5% scaled point and figure chart to identify the necessary move above $211.15, which has since activated the previously identified point and figure vertical count projection toward $311.96, based on the prior consolidation range. Intermediate support now rises to the breakout zone near $211, followed by secondary support around $165.44 and $150.06. As long as shares remain above the breakout level, the long-term technical bias stays positive.
From a sector perspective, PANW remains a member of the favored SIA Computer Hardware sector, which continues to provide a supportive backdrop. The SIA SMAX reading, previously noted at 5/10, has now toggled positive with a current reading of 8/10, further supporting strengthening relative to alternative asset classes.
Following the breakout that was pending at the time of our earlier update, today’s technical review of Palo Alto Networks Inc. (PANW) reveals further improvement across multiple relative strength metrics. Most notably, PANW has moved back into the favored zone of the SIA S&P 500 Index Report, now positioned at #80, reflecting its improving leadership status within the broader market.
In the attached weekly candlestick chart, we can now clearly visualize the breakout beyond the $200–$211 resistance zone, which had contained price action through much of 2024 and early 2025. The psychological $200 level is shaded in light green to highlight its new role as initial support. Prior to the breakout, volume was robust; but has since settled down, a normal technical progression suggesting that the initial surge of buying interest has transitioned to a period of consolidation. Volume activity remains notable, accelerating on minor pullbacks but muted during the breakout itself. Given recent market volatility, this may suggest that investors and advisors are taking time to reassess valuations across high-growth names, including PANW, before re-engaging more aggressively.
The updated SIA point and figure chart, plotted with a 2% box size, further clarifies the evolving support and resistance structure. Initial support is now identified at $202.35, with deeper secondary support near $186.94, both corresponding to prior consolidation zones. On the upside, resistance is measured via a vertical point and figure projection to $256.63, which aligns with the previously established longer-term target of $311 derived from the 5% scaled chart in the September 19th analysis.
Taken together, these charts suggest that PANW’s breakout remains technically intact, with supportive relative strength trends and well-defined levels of both support and resistance. Continued monitoring of volume patterns and SMAX readings will be important in confirming sustained institutional participation and follow-through momentum in the weeks ahead.
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