Tuesday, March 13, 2012

PCLN

I think I'm going to be patient with PCLN, I'll show you why...

 This 60 min chart leading negative is the only reason I considered PCLN as this is a stock that doesn't seem to be effected by gravity. I like the continued weakness in this chart...


 The 30 min shows the same weakness, but intraday I''m not sure about that white arrow considering the price pattern. The short term charts are in line with price.


There's an obvious triangle in PCLN and it's a widely watched stock, so even if it is going to meet gravity, which I suspect it will, I would think any move down would first see a shakeout from this triangle. I think it would be best to wait for that probable shakeout.

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