Palo Alto Networks $PANW continues to recover since its November low around $161.65. It is now pushing above $190, but I think there will be critical resistance in the $195-$200 area. PANW Daily Chart(click to enlarge)Bearish Correction:- Let's take a step back and first acknowledge that PANW was bullish coming into 2018, and extended that rally into September. - However, risk aversion hit the general equities market in October, and that dragged PANW along for the ride. - PANW has broken several key support levels that would have kept its bullish outlook alive. Now, it is clearly in correction mode.- But within this correction mode, we are getting a rebound from $161.65. Resistance:- Note that the $195-$200 area involves a previous support/resistance area. - This is also where the 200-, 100-, and 50-day simple moving averages (SMAs) are clustered.- Meanwhile, if the market is still in bearish correction mode, the RSI should hold under 60, or come right back down after pushing slightly above it. I don't know if the market is back on the bull track. But if it is not, PANW is approaching a level where it should also turn down back into the correction mode. I think $150 (near the 2018-low) is still a viable bearish target for PANW during this equities market downturn.