here is nobody defending the maker of security software, Palo Alto Networks Inc. (NYSE:PANW). This high flying stock has been in a steady decline since it made an all time high back on March 18, 2014. You can lump this name in with other momentum stocks that were all the rage in 2013 and just as recently as a couple months ago.
Palo Alto Networks Inc. (NYSE:PANW) chart has triggered a head and shoulders pattern on its weekly chart. If this pattern plays out in full, then this stock has a target of roughly $38. That would mean there would be about a 36% decline from current levels, in addition to the 27% drop that Palo Alto Networks Inc. (NYSE:PANW) has already suffered.
That is quite a fall from grace for Palo Alto Networks Inc. (NYSE:PANW). This is the type chart that short sellers could potentially profit from in a big way.