After three days of going down, Palo Alto Networks is up 0.9% today

The Californian cybersecurity firm trades at $194 today, after closing yesterday at $192.27 and gaining $1.73 (0.9%).

Palo Alto Networks is currently trading at $194 following the release of Services PMI data from the United States.

Meanwhile, United States Services PMI released today at 13:45 UTC with a figure of 53.7, while the previous figure was 52.6. United States Existing Home Sales (Mar) came out at 4.44 million, while a consensus of analysts was expecting 4.5 million. United States Philadelphia Fed Manufacturing Index (Apr) came out at -31.3, while a consensus of analysts was expecting -19.2.

Palo Alto Networks, Inc.'s lower Bollinger Band® is at $188.8, indicating that the market is oversold and fertile for new buyers. Palo Alto Networks broke through the $193.71 resistance and climbed above it 29 cents; next resistance level is at $195.16.

Examining the technical analysis landscape, Palo Alto Networks might continue its downtrend in the short term.

Rallies can also be seen in other technology stocks, SAP is trading at $133.4 after ending yesterday's session at $126.86 (up 5.16%).

Meanwhile, after closing the previous session (yesterday) at $89.29, TSM lost $3.21 and is trading around $86.08. Intel is down 1.67% from the beginning of the session and now trades around $30.34.

The stock has been trending positively for about 3 months. Palo Alto Networks has shed $433.9 points and is languishing 69.29% lower over the past year, leaving its yearly highs around $626.17 in the rear-view mirror.