Priceline Ascending

What should we like about Priceline (PCLN) now? The bigger picture pattern is bullish with a clear series of higher highs and higher lows. Also, the price is above the 200-day simple moving average (SMA) and, as far as Tuesday's action is concerned, we saw a healthy thrust back above the 50-day SMA.

Key price support in this stock has also been respected at the $678.67-$680.46 area with the initial low being made at $679.71 on March 19. When this low was made, there was also a healthy cluster of Fibonacci timing cycles between March 19 and March 21. When Fibonacci time and price parameters come together, it makes for a higher probability trade setup. After the initial attempt to rally off this low, we are finally seeing a decided move off these time-and-price parameters....161 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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