PANW is showing a short-term bounce within a broader downtrend, with price reclaiming the 8 EMA and testing the 20 EMA from below. The recent move higher looks like a relief rally after a sharp selloff, but the trend structure remains bearish unless price can break and hold above the $170–175 zone.

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ADX is starting to turn up again, with +DI attempting to cross above -DI, suggesting a potential shift toward short-term bullish momentum. However, this is still early and not fully confirmed. If price fails near these moving averages, it could set up for continuation lower, making this a key decision area for direction.

Wishing you the best,

Wendy