Priceline ( $PCLN ) was on fire to start the month of June, soaring over $100 in just 5 trading sessions. Since then, the stock has gone the other direction, dropping for the past 5 sessions. It now sits at a key level, having breached it's 50 day moving average, and is only $20 away from it's 200 day moving average.
A few weeks ago it looked like Priceline ( $PCLN ) may hit new all-time highs, today the stock is struggling to hang on. I added some puts this morning as the stock was breaking support. I thinkPriceline ( $PCLN ) will come down and test $1270(and below) this week. Will be watching the $1310 spot as an area I would close out my put position:
Happy Trading!
-JB