Up-sloping trend lines of resistance on larger time frames will often offer short periods of selling and for this reason I wouldn't short this for a long term trade unless you get a reason to do so, ie high volume reversal - this is still a strong name!. That said, I thought it was worth noting this pattern since it's only the 3rd touch of the line and with significantly less volume on the monthly chart. PCLN has a few good trend lines that always seem to work out nicely but this one is MASSIVE. It will be interesting to see if we break above or we break down before the seasonal rally!
Kommentera:
A closer look....
