Palo Alto Networks extended its six-day winning streak Friday by adding 1.12% and closing at $246.53

Friday at a glance: the cybersecurity company went up to $246.53, gaining 1.12%.

Technical analysis of Palo Alto Networks's past price action reveals multiple support and resistance levels: Palo Alto Networks, Inc. could be slowing down soon; it is getting close to the resistance line and is now at $248.8, only $2.27 away. Crossing the resistance line could, however, suggest that further gains are ahead. Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as Palo Alto Networks price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Momentum evaluation shows that the Relative Strength Index indicates Palo Alto Networks is currently 'overbought' which suggests new gains will be harder to obtain. Asset volatility analysis shows that Palo Alto Networks's upper Bollinger Band® is at $252.16, this is a slight indication of a slowdown.

Overall, while Palo Alto Networks has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Palo Alto Networks went up Friday, yet these technology stocks did not follow — Sony Group Corporation went down to $97.57, losing 2.11% after it closed at $99.67 Friday. AMD lost 3.35% Friday and closed at $120.08. ASML Holding went down to $721.88, losing 2.28% after it closed at $738.69 Friday.

Furthermore, the market is looking at United States Building Permits (May) is scheduled for tomorrow at 12:30 UTC.

The stock has been trending positively for about a month. Approximately 9 months ago, the cybersecurity company reached a significant high of $575.58 but has struggled to hold onto its gains and declined 57.64% since then.