In his Real Money column "We Have Now Developed a Truly Roulette Market" Jim Cramer says it's becoming clear that America doesn't have the political will to control the virus through testing, contact tracing or even masks. And that puts our hopes in a vaccine. In the meantime, stocks like Amazon (AMZN) , Zoom Video (ZM) and Palo Alto Networks (PANW) will continue to be your friend.
Let's check out the charts of Palo Alto Networks.
In the daily bar chart of PANW, below, we can see that the shares have been "knocking" on the highs of November and February. Prices are above the rising 50-day moving average line and the rising 200-day moving average line. We can see a bullish golden cross of both averages in June.
The On-Balance-Volume (OBV) line broke out over its February high last month and has continued higher. This strength in the OBV line is foreshadowing, I suspect, price strength. The Moving Average Convergence Divergence (MACD) oscillator has been bullish since April and is turning upward for a fresh outright buy signal.