Priceline.com (PCLN) – The Significance Of $570 & The Power Of Technicals

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By Chris Diodato

Good morning everyone!  Hope no one was caught off guard, and currently waiting to dump a losing PCLN position at the open!  So, PCLN has declined sharply to the $570-$575 level post earnings, and is stabilizing.  What is so important about this level?  $585 would have represented a gap fill, but the price shot right through that potential support zone.  Well, it all goes back to a technical signal back in June.  Check out the YouTube video to find out what I'm talking about!

 

Metrotrader (D) is one of the few practicing CMTs (Chartered Market Technicians) in the United States . The CMT certifies his knowledge of market timing and risk management approaches. He tends to look for broad market moves and take advantage of them with index funds. The strategy he principally uses is mostly quantitative, and, tested, and has avoided or capitalized on every major recession since the 1940s. He says the best way to make money is to avoid losing it in the first place.

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