I'm really only following PCLN or started to because I've never seen so many people want to short a stock that I can recall, everyone seems to hate William Shatner.
In any case, it's taken some patience, but I have no problem with a PCLN equity short as a core / trend position in this area, a little bounce all the better, but the charts look good right here.
60 min chart, one of the strongest.
I love when we have nice clean 3C / price trend confirmation in green and then a divergence pops out, it just gives that much more credibility.
Here's a look at the 60 min a bit closer, I said I wouldn't start or add to (in my case) PCLN until it is above the $1100 area , there was a reason for that and the 3C chart above makes it clear. 1100 is a round number, whole number, centennial number and thus a psychological number and a new high, that's where distribution would be heaviest and it appears I was right.
30 min chart with confirmation and look at 3C once price crosses the yellow $1100 trend line.
Heck, look at the trend of this 3 MINUTE CHART!!! I can't zoom out enough to properly scale it because 3C should be lower around price at the green arrows where it is confirming the trend, the minute we are above $1100 though, look at 3C.
This is a closer look at the intraday, as you can see, things recently have just gotten worse.
I like this one, I think it may be a bumpy ride, but probably well worth it.
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