Reason: Bifurcated — cyber (CRWD/PANW/FTNT) strong while app-SaaS (CRM/NOW/ZS) capitulating; buy cyber, avoid SaaS knives.

Notes

Tape-read: sharply bifurcated. Cybersecurity is in confirmed uptrends near highs; application/data SaaS is capitulating into deep collapse regimes. Buy the cyber strength, avoid the SaaS knives — these aren't dips in an uptrend, they're broken trends.

• FTNT — CONFIRMED-BREAKOUT · RSI 66.4, uptrend, +85% 3m, only -1.2% off high; golden cross, leadership.
• PANW — CONFIRMED-BREAKOUT · RSI 65.5, uptrend, +86% 3m, -3.8% off high; strong-up, golden cross.
• CRWD — CONFIRMED-BREAKOUT · RSI 55.3, strong-up, +72% 3m, -14% off high (pullback within uptrend).
• OKTA — CONFIRMED-BREAKOUT · RSI 59.9, +27% 30d, golden cross; identity recovering.
• NET — OVERSOLD-QUALITY · RSI 46.8, strong-up trend but -19.6% off high; golden cross, on watch not yet triggered.
• CRM — BROKEN-AVOID · RSI 31.8, collapse, -45.9% off high, death cross; falling knife.
• NOW — BROKEN-AVOID · RSI 37.8, strong-down, -57.4% off high, death cross.
• ZS — BROKEN-AVOID · RSI 40.6, collapse, -63.3% off high, -33% 30d; do not catch.

Lead pick: PANW — confirmed uptrend (RSI 65.5, +86% 3m, golden cross) only -3.8% off its high with room before overbought. Trigger: buy a tight flag/breakout above the recent high; skip CRM/NOW/ZS entirely.