$PCLN sell pattern complete – FAILED PATTERN

Folks, this mirror image got smoked.  Much like the mirror image for Natural Gas … the mirror images fail at the inflection points and $PCLN has rolled thru the pattern. ERASE … ERASE…ERASE.

Where are we now?

Well, if we look at the candles you’ll see the 2nd largest monthly candle since the IPO occurred last month (OCT) So, we have 1484 coming in but it sure looks like momentum and thrust will carry it to the 1600 level.  I’m going to spend some time on this one over the next couple days …

here’s the MONTHLY picture …




IF the mirror image foldback is in play THEN this pattern needs to hold and start down. a move below 1360 would bolster conviction that the mirror image mentioned earlier is in play.


Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets.

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