timwest
Short

Priceline.Com -PCLN -Daily -Update -Sell Zone

NASDAQ:PCLN   PRICELINE GRP INC
409 11 10
PCLN             has rebounded back up to a level where there is heavy supply and limited upside potential. 1161-1174 is an area where PCLN             spent the most time on its way down from the 1320+ peak in August.

The CCI (11) has returned to +100 on three occasions recently and both OBV and my proprietary trend indicator RgMov are still pointing to a downtrend for PCLN             .

Consider the risk here is low, on the order of 3%-6%, and the downside is 10%, it makes sense to me to consider a short sale. With a weak market this morning, be careful as the risk shifts sharply away from ideal with each 1% down in PCLN             .

If short already, look for PCLN             to hold and close under Wednesday's low 1143.05.

Tim 8:37AM EST 10/30/2014 Thursday
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and CCI wont stay there for long. Usually if they dont run up while CCI is 70+, it sets up for a move lower. so +1 from me
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Excellent analysis, but I think we should wait to see what happen after the earning reports.
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Note: Earnings are due in a few days... 5 days...
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Chukkala timwest
I have shorted at around 1145. Its already 6% increase on the opposite direction. start to worry
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Chukkala Chukkala
Rewarded handsomely. Thanks !
+2 Reply
Looks like you called it... congrats... Do you thinks it continues..??
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timwest PRO BizkitBR
I don't know BizkitBR. Listen to the conference call and then look for analysts upgrades and downgrades tomorrow on PCLN. I think many will come out and raise/lower guidance. I'll be reading up on it later tonight or tomorrow morning. I like to mix the fundamentals together with the technicals and love it when they both tell the same story. Personally, even though PCLN is headquartered about 10 miles from where I live, I think they are a parasite on the travel system and take advantage of people. I personally have used their service and I do not recommend using it at all.
+2 Reply
Let them dump then ;) Great chart Tim!
+1 Reply
Interesting view on OBV on the longer timeframe, but even the daily moves are enough to make a dent in a "normal" holders portfolio. In hindsight, the big players were correct, as earnings proved with a large dump after the ER release. When I view the OBV for the current week, using a 5 min chart, it appears the OBV is very closely tied to the shape of the price history, However I am noticing when the price dips far, but the OBV doesn't dip the same ratio (ie it dips less than the level it was at at the previous price point) it appears this might be an indication of an extreme price dip that did recover intraday, (ie it is not time to panic and dump, as price came back). I've also noticed it appears that when the price recovers and spikes up, but the OBV does not match the range again, that the spike up fades intraday or the next, I use the phrase "it appears" because I assume PCLN is highly manipulated by market makers who are adjusting stock price to make up for option premiums sold, etc. Plus this must be a millionaires play toy, the avg investor trader could not hold many shares of this with it's high intraday volatility. is the Range Mov indicator available as an add-on? i just discovered TV last night and am amazed by the content & scripting ability. I just wish option data streams were included. thanks.
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Thanks for the commentary and welcome to TradingView. There is a world of power in the data and scripting capability. As for OBV, I don't use OBV on intraday charts as I feel that anything can happen on the intraday time frame with orders coming in randomly and others that are slowly executing all day long. Over the longer term, watching relative price strength to the group or index is helpful for ferreting out the weak and strong stocks. There are so many ways to find good ideas technically. It just takes guts to take the trades as they set up. Feel free to share what you think here at TradingView and think of it as an online journal. There is no good or bad, right or wrong, just post your setup and see what happens and see if you can learn from it. Again - welcome to TradingView and thanks for sharing.
+1 Reply
Fascinating how it played out under your double "Sell" resistance lines.
+1 Reply
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