PCLN is rising steadily in a rising wedge pattern, which is considered bearish in terms of technical analysis. Moreover, in terms of candlestick pattern studies, today's close is an ideal example of a shooting star pattern, which indicates tremendous supply.
Both these are bearish from technical POV but fundamentals of PCLN are sound. However, given that more than one technical indicators are bearish, I would consider this trade as a relatively safe one. I am looking forward to take a short position in PCLN tommorow.
Buy - PUZRR for $5/contract
Target Exit - $8/contract
Stop Loss: $4/Contract
Other short Ideas - GWW, PVH, SPH, ITC, ..... More to come later...MA GMCR GOOG(other shooting star)
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