stephen.punwasi
Long

PCLN Ready to move back up?

NASDAQ:PCLN   PRICELINE GRP INC
74 0 2
PCLN             is back on my radar as they're pricing out a large debt issue. Typically this is done before a large share buyback or a major acquisition. Whether this is good or bad for the stock is up for debate, but it does mean a catalyst for volume will be coming. I'm personally opening up a long position as there are three indicators like:

PRICE - This stock has slipped almost 10% over 4 weeks on no news, sitting close to it's 4 week low. I see this as a value since there has been no major shift in management or real sentiment in this company. The stock bounced on 1150 which seems like an important psychological level. I'm setting a stop loss here as a safety, since $1152 is a fairly strong support level .

MACD - The histogram is back on the bullish side, and the fast line is making a relatively clean cross over the slow. This is typically bullish , but the past few macro events have been pushing it down.

VOLUME - The volume level appears to have double bottomed and is starting to accumulate. Watch this closely, as it starts to creep back up, traders will be accumulating positions. This will serve as confirmation for any major movements.
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