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
Comments
timwest
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Looking good in price movement - volume needs to pick up steam
timwest
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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.
timwest
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