The Pandora Trade Plays Out

By | December 5, 2016

I highlighted a trading set-up on the Pandora (P) chart last week and recommended it as a buy at its then current level. The stock broke out of the cup and handle formation it had been basing in on its daily chart and up to a long term downtrend line on its weekly chart. The charts can’t predict take over rumors but consolidation patterns and defined levels of support and resistance develop sometimes, for reasons that do not show up in the most diligent fundamental analysis.

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