Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Wednesday, December 30, 2015

PCLN Continues Its Uptrend

Throughout the calendar year, PCLN has continued to provide swing trades again and again each time it bounces up from the lower line of its uphill midterm channel (shown in red).  

click on image to enlarge

Its downhill channel throughout last year (shown in brown) failed to take it out of its long term blue line channel (shown in the lower chart).  This situation set up PCLN to climb steadily this year and  is definitely one to be swing trading since it has such a tall channel which typically doesn't take a stock much higher year to year but provides lucrative swing trades during the interim.

Trade well my friends


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