A big reversal off of the 1260 level last Friday helped PCLN look like it had turned solidly back up and the gap up Monday morning lifted it right within sight of the 2 "Key Hidden Levels - Resistance" lines, one at 1292 and the next at 1300.
The valuation bloat in these strong growth stocks is enormous, so it isn't easy to short these stocks, but with key-levels posted on the chart, you can see where companies release their earnings and update their forecasts and analysts make most of their comments because it is summarized by the dark green line on the chart, drawn automatically for you.
The big drop in March this year occurred after PCLN spent an entire day below its "key-hidden-level" noted with the blue-circle. Note also how the market didn't really "hold" the key-support line on the pullback from 1380 to 1294 as the market chopped around at that level.
You can see how important these levels are in the chart of PCLN. Consider a subscription to "Key Hidden Levels" at Marketplace Add-Ons section of Indicators.
Tim 1276.75 last 8/26/2014 9:48AM EST
The valuation bloat in these strong growth stocks is enormous, so it isn't easy to short these stocks, but with key-levels posted on the chart, you can see where companies release their earnings and update their forecasts and analysts make most of their comments because it is summarized by the dark green line on the chart, drawn automatically for you.
The big drop in March this year occurred after PCLN spent an entire day below its "key-hidden-level" noted with the blue-circle. Note also how the market didn't really "hold" the key-support line on the pullback from 1380 to 1294 as the market chopped around at that level.
You can see how important these levels are in the chart of PCLN. Consider a subscription to "Key Hidden Levels" at Marketplace Add-Ons section of Indicators.
Tim 1276.75 last 8/26/2014 9:48AM EST
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