timwest
Short

Priceline.Com -PCLN-Daily: On Balance Volume Saying Goodbye...

NASDAQ:PCLN   PRICELINE GRP INC
761 5 13
Very strong selling is going on under the surface of PCLN             . Although the price appears to be healthy and range-bound, it appears as if long term holders have liquidated their positions and now are waiting for prices to fall dramatically.

I know it looks like I'm kicking PCLN             when it's down, but it is still just "rolling over" on the long term chart. The uptrend has been thousands of percent and this is only less than 20% off the highest highs.

Airline stocks rolled over and are very weak, so that bodes ill for all the stocks involved in the travel industry for the near term.

The ATR is 23 points. If you use 1 ATR as a measuring stick, your stop can be about 3 ATR's away and your target might be about the same. The probability of hitting 3 ATR's profit versus the 3 ATR stop is the key in the long run: I'd presume about 75% chance of a win from this setup. That makes a good system in the long run if you can find enough trades to take.

1:24PM EST Wednesday, October 1, 2014
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damdaman
2 years ago
Do you expect a short-term bounce? It's run right up to a potential support price of your "Key Hidden Levels" method, I noticed from your chart here:
Priceline.Com PCLN -Daily -Key Hidden Level Stops Rally
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Maddie
2 years ago
Wow very interesting!
Thanks for the chart :)
Reply
DanV MOD
2 years ago
Agree with your observation. In fact This stock could well have completed larger 5 waves cycle and now is likely to make a significant retracement. Here is my chart on monthly time frame. Great chart.
snapshot
+1 Reply
DemianThomas
2 years ago
Hi Tim, love your charts, was just noticing that the sma 50 is about to cross below the sma 200 (death cross) would love to know your thoughts on pcln and your forecast for the next month.
thanks
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Alisho
2 years ago
How was you able to put the on balance volume in the chart? :)
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