SSS - Priceline.com (PCLN) potential Late-Stage Failed-Base Set-Up
| Published: | 9 Aug 2011 13:48 ET |
PCLN is unable to rally back above its 50-day moving average at around 510 and is setting up as a potential Late-Stage Failed Base. Market action today could be volatile, with rallies and sell-offs continuing until the Fed announcement at 11:15 a.m. Pacific, 2:15 p.m. Eastern today. We would keep an eye on this as it is preferable to short PCLN closer to the 50-dma, using the 20-dma at 522 as your upside stop. Keep this in your back pocket for later in the day, or perhaps over the next couple of days if the market is able to mount a more meaningful rally from here.
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