themarketzone

Double top inside a Cypher's PRZ

NASDAQ:PCLN   PRICELINE GRP INC
Earnings analysis for $PCLN:
$PCLN broke out of a weekly trading channel (red dashed lines). but it did it with a gap that closed as a bearish Pinbar.
1260-1280$ is a strong resistance zone with the figure level of 1300$ coming on top of it so there's plenty of resistance ahead if $PCLN intends to reach new record.
As long as the price remains below 1300$. the Cypher patter may still work and the double top we currently see in the PRZ could be the entry trigger.

Earnings involves high risk so don't forget to manage risks and choose the right strategy if you trade it before earnings.

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Tomer J,
The Market Zone - You trading Edge
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