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As a contributor to the New Low Observer (http://www.newlowobserver.com/about-this-site), we intend to give new insights on a low risk approach to trading in dividend paying stocks for tax deferred accounts. The New Low Observer (http://www.newlowobserver.com/about-this-site) is not intended for... More
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  • Priceline.com (PCLN) Downside Targets 0 comments
    Aug 8, 2012 3:22 AM | about stocks: PCLN

    In after-hours trading on August 7, 2012, Priceline.com (NASDAQ:PCLN) has decline below the June 1, 2012 support level of $610.50. By declining below such a level, it appears that we can project downside targets using Edson Gould's Speed Resistance Lines.

    image

    Our current assessment of Priceline.com is far different from our examination of Gould's Speed Resistance Lines on November 10, 2011 (found here). As the price of PCLN has increased so does the downside targets.

    Over the next several months, we'll be able to see if Priceline.com declines to the conservative target of $434.73 and then to the $317 level. Our extreme downside target of $258.32 appears as an outlier event at this point but will be reconsidered if PCLN declines to $317.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: PCLN
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