timwest
Long

Pandora Media Inc - P - Daily - Building a base on "key levels"

NYSE:P   PANDORA MEDIA INC
292 3 1
Nice base building here in Pandora and the solid test of "key hidden support" both on Tuesday and today (Thursday) is a good setup for a rally from here.

The recent price action is a sign that nervous longs were getting stopped out of their positions and short sellers are piling on to try to make back their losses from the big spike up from 26-29. That is what is known as a "bull flag".

Initial target is $29, then based on how it gets there, perhaps it can grind out another $2 move to $31.

Tim 12:33PM EST 8/28/2014 27.04 last
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Because the volume is so light in this pullback, I want to see volume pick up on the rally. Keep a close eye.
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Looking good in price movement - volume needs to pick up steam
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