Shares of online travel operator Priceline Group Inc (NASDAQ:PCLN), have been out performing the markets as of late. While the broader indexes have been in a steady decline over the last few weeks, Priceline Group Inc (NASDAQ:PCLN) has been trending sideways to higher. This relative strength should not go unnoticed by traders and investors.
The chart I have included below is one that is forming a bullish consolidating pattern. If this chart does play out in full, shares of Priceline Group Inc (NASDAQ:PCLN) could see a nice pop and potentially challenge the all time highs of $1378.96. Now, I will preface that by noting, Priceline has reported earnings on Monday morning which disappointed, these reports can cause large swings in share price in the near term. However, the overall chart pattern will often supersede any fundamental information in the greater share price move. Therefore, the smart trader and investor will watch this chart pattern closely, using it and other technical factors to determine when to enter and exit the position. While also being aware of other factors such as earnings which may cause volatility. Place this pattern and levels on your PCLN chart and watch it closely.
image: http://ift.tt/1pmW8qv
Parm Mann
InTheMoneyStocks
Submitted August 11, 2014 at 10:29AM by inthemoneystocks http://ift.tt/1pmW8qx
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