We're making 100% on a trim of this cybersecurity stock in an overbought market

  • 📰 CNBC
  • ⏱ Reading Time:
  • 25 sec. here
  • 10 min. at publisher
  • 📊 Quality Score:
  • News: 41%
  • Publisher: 72%

Breaking News: Markets News

Markets,Investment Strategy,Jim Cramer

Monday's sale books profits to start the new week following Friday's dovish Fed-driven rally

Shortly after the opening bell, we'll sell 30 shares of Palo Alto Networks at roughly $349.50 each. Following Monday's trade, Jim Cramer's Charitable Trust will own 230 shares of PANW, decreasing its weighting to 2.4% from 2.71%. We're booking profits to start the new week following Friday's dovish Fed-driven rally, which sent the S & P Short range Oscillator deeper into overbought territory.

mountain Palo Alto Networks YTD Monday's trim of Palo Alto Networks was signaled both before and after last week's strong earnings report , especially when it was up about 8% last Tuesday . Although we are long-term investors, not traders, and view Palo Alto Networks as a best-of-breed company in cybersecurity, we liked the idea of selling back the 30 shares we bought near $300 in early August when the market was breaking down on recession concerns and throwing away tech stocks.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSÄ°NESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Elliott Wave analysis: Bullish outlook on SP500 and NASDAQ post-AMZN earnings and FOMC [Video]S&P 500, SPY, NASDAQ 100, QQQ, DAX 40, FTSE 100, ASX200 Elliott Wave Analysis.
Source: FXStreetNews - 🏆 14. / 72 Read more »