We reviewed the charts of Palo Alto Networks ( PANW) on November 22 and recommended that "Overall the charts of PANW are bullish but I always like to think about defense. Traders who are long PANW from our recommendations could raise stops to $490 from $479."
Prices have traded sideways since November and have inched closer to our $490 stop level. Let's check the charts again. 
In this daily bar chart of PANW, below, we can see that prices are below the rising 50-day moving average line and near the bottom end of the sideways trading range. The daily On-Balance-Volume (OBV) line shows weakness from the middle of December. The Moving Average Convergence Divergence (MACD) oscillator has been weakening since September.
In this weekly Japanese candlestick chart of PANW, below, we can see a vulnerable picture. An upper shadow around $570 suggests that prices have reached a level where traders are rejecting the gains. Prices are still above the rising 40-week moving average line but this lags the market action.
The weekly OBV line shows weakness as does the MACD oscillator which is crossing to the downside.
In this daily Point and Figure chart of PANW, below, we see a potential downside price target in the $419 area.
Bottom line strategy: With weakness in the broad market, I would maintain that recommended stop at $490.
