QuantitativeExhaustion

Name Your Price! Double Top or Bearish Wolf Wave.

NASDAQ:PCLN   PRICELINE GRP INC
849 2 14
Biggest Gainer over the past 12 years. Priceline.com one of the few companies to make it out of the .com bubble.

Chart suggest we have a possible double top forming or a bearish wolfe wave. To proceed with the double top PCLN             will have to take out the 1.618 fib resistance. If price fails to break 1.618, at $729, you will see a quick drop to the .786 fib support. Price could take another turn and full fill the Wolfe wave pattern and head to 554. -or- PCLN             can regain strength and attack the 780 double peak later this year.

Right now I see the retest of the .786 fib around 664-677 (small red box inside the wolfe wave) as most probable. This would also set up a strong neckline and reaffirm an overall double top and possible head and shoulder within a wave 5 pattern.

I took the time to go through the chart and pick apart the wave count.
snapshot


Wolfe Wave / Extended Ascending Triangle-Wedge
With Pitchfork Fib Support/Resistance
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out