PCLN-Doll of Momentum

The porcelain of the market doll, PCLN is showing some cracks. I was asked to look at PCLN as an earnings play. I look for very distinct patterns in 3C that suggest earnings may have been leaked, I do not see those here -at least not yet-we have until the 17th and I wouldn't expect to see them yet anyway. However, here is what I do see.

 In a linear regression  channel, PCLN is deteriorating.

 Here you see a false breakout from the channel, as usual, false breakouts reverse quickly and this one was not as fast and volatile as some, but it did fall to the lower channel.

 Surprisingly, you may not have seen it, but since that breakout, we've had nearly 2.5 months where PCLN has only gained 3.72%-severe underperformance and another sign of the falling upside momentum.

 The daily 3C accumulation/Distribution cycle seems to be playing out as there was confirmation from the accumulative base during June-July-confirmation ran from then until November at the false breakout, since we have seen a distributive cycle.

 The hourly chart confirms this as well.

 So does the 15 minute chart

 Here's the Heiken-Ashi chart -in white we've seen some momentum along the top Bollinger bands, that faded fast. In yellow we have a series of indecision candles and the bands are squeezing as volatility drops signaling a highly directional move may be in the works. Volume has dropped as well, you will see why in a moment. Note at the red arrows the last volatility squeezes and the events after them.

 Here we see the trend loosing momentum as a very high reading or 64 turned down, the current reading of 22 is near a trendless market. Also the Vortex indicator has lacked clear signals lately.

 From the false breakout, you see a divergence in RSI

 Here's TSV 55- a long version similar to 3C accumulation/distribution. Look at the red squares on the left and see what happened the last time TSV crossed down through the moving average as well as the "0" line, we are on a similar path now with a negative overall divergence.

Here's a triangle, and this is why you saw declining volume and the indecision in the Heiken-Ashi chart.

Ultimately there may be a false breakout to the upside, but I have a feeling the long term chart is falling apart.