07Sep10:45 amEST

It's the Priceline Negotiator Versus Price Gougers

We have a slow morning on the major equity indices thus far, as the market almost seems content to ride out the many hurricanes threatening the southeast part of America, turbulent geopolitical headlines, not to mention a seasonally weak time of yea. 

And, yet, it is tough to turn too bearish too soon, beyond the historic resilience of this bull market but also due to how many growth names in tech names continue to hold up and even act well. 

Moroever, when it comes to premier market leaders, even the ones which recently cooled off such as Priceline after an early-August earnings selloff, they may be ripe to catch a rotation back down to them to wake up for an autumn run.

Specifically, PCLN has been quietly tightening up, price-wise, over the last few weeks. The daily chart, below, indicates that price is rather compressed now since the Bollinger Bands are now "pinched," which suggests a big price move is likely imminent. 

PCLN remains in an overarching uptrend, of course, with a move back over $1855 or so giving bulls some breathing room for a rally. 

In addition, with the hurricane evacuations in play and plenty of talk about price gouging, the "negotiator" at PCLN may be the consumers' best defense in these affected areas to counter some of the funny-money games being played in a crisis. 

Stock Market Recap 09/06/17 ... They Don't Back Up Like They...


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