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marketchan

RSI Bearish divergence + Insider selling + Overbought conditions

Short
PACCAR Inc. (BATS:PCAR)  
marketchan Updated   
BATS:PCAR   PACCAR Inc.
Chart Patterns Beyond Technical Analysis Fundamental Analysis
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chartpattern beyondta fundamental
The presence of RSI bearish divergence (on the Weekly and Daily timeframes), underscored by price making higher highs while RSI makes lower highs, coupled with insider selling totaling 2,818,600 USD by the CEO on the 2nd of February, indicates potential weakness in the stock's momentum.

Moreover, overextended prices on the weekly timeframe further bolster the case for a downward correction.

With these signals aligning, investors should remain vigilant for a potential retest of the 90 area in the next three months, presenting a strategic window for short positions.
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