Blowout earnings a quarter ago prompted a huge gap up. Then PCLN saw short-term selling to fill its gap and now the subsequent rally is complete as the early August highs have been retested. While a gap higher with upcoming earnings isn't a slam dunk, even a pullback after earnings would be bullish as the long-term weekly chart (pictured below) shows a cup or inverse head & shoulders pattern - both are bullish continuation patterns. Here's the daily chart, reflecting the recent test of resistance:
PCLN is part of the travel & tourism industry ($DJUSTT), which has been a stellar relative performer the past three months. In addition, PCLN looks very strong relative to its peers as it currently resides in a relative bull flag. A breakout above the price resistance shown on increasing volume would be quite bullish.
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