PCLN another interesting long candidate

PCLN was a core short position that did very well, but it was closed Friday as some positive divergences developed and it looked like a fairly profitable place to close the trade.

As I just closed AAPL calls for a 13.5% gain since late Friday and I would take double digit gains in a couple of hours as long as the market will give them to us in a range, PCLN is another candidate for this type of trade and I think eventually a bigger move as well, in that sense it's not much different than AAPL and provides another example.

 2 min PCLN positive in to Friday's afternoon trade.

 3 min chart looking good  as well, the idea here is for a range to develop and 3C to put in a higher high, extending the leading positive divergence, as this happens it will move down the line to longer timeframes and increase probabilities of a bigger, more sustained move up.

 5 min chart also looking good.

 Here the 10 min chart is already adding to the positive divergence, this is the migration we want to see, however without a pullback in to the range or perhaps consolidation is a better word, it will be very difficult to keep adding to this positive divergence.

Like AAPL, the intraday 1 min chart shows a negative intraday divergence sending PCLN off its highs, this isn't as bearish as it would appear on a price chart only, it should actually be quite bullish for a more sustained, larger move up in PCLN.

I just wanted to point out PCLN as another candidate to trade within a range, I think you need leverage to make it worthwhile and while 13.%% isn't a huge gain, considering what the market is doing today it is respectable. Take what the market gives when and where it gives it.