The presence of RSI bearish divergence (on the Weekly and Daily timeframes), underscored by price making higher highs while RSI makes lower highs, coupled with insider selling totaling 2,818,600 USD by the CEO on the 2nd of February, indicates potential weakness in the stock's momentum.
Moreover, overextended prices on the weekly timeframe further bolster the...
Periodically, I let my pendulum choose a random ticker from pages and pages of tickers. Most of the time they're obscure companies, and this is another one I've never heard of. However, what a run! Apparently, they make trucks or something. I really don't care. What I do care about is their options are decent!
The scenario I'm getting is we take another stab at...
Not looking good for my favorite stock, it's not moving up with teh market but probably will move down with it.
If the market drops later this week (AAPL earnings?) PCAR will more than likely break support.
No position, I don't short PCAR because it always fills gaps down. CAT is easier, though oversold now.
NASDAQ:PCAR Beat Earrings and revenue and has been building a base for about 4 months now. I have this on my watchlist for an Undercut and Rally trade. All TBD.
See chart for notations and thought process. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
PACCAR (PCAR) reported earnings of $2.34 per share on revenue of $8.70...
Looks like the post earnings pump is over, kicking myself a little or not having the balls to hold Monday, lol.
Anyways, looks to me like it's gonna continue this rangebound trading then eventually fill that gap above. Daily direction will more than likely be the same as the market from here.
I'll continue to trade this stock on days when I expect the market to...
Went long today, I still think it's repeating the highlighted area..... which would make sense. I think the whole market bounces up Monday because it's oversold and hit support, then a small gap up Tuesday followed by selloff and double bottom next week.
Just a guess, I'd rather have it go pumptarded and fill that open gap up top, lol. Either way, I'm bullish...
The last time PCAR went down in October was 2018, which also happens to be when the Fed raised rates pre-COVID. It gapped down on earnings, despite good numbers.
Earnings transcript:
www.fool.com
So maybe PCAR isn't a good earnings play. I'm still gonna go with it but not add any more Monday.
One thing to note is that the market gapped down that day and...
Low volume pump today, went up $1.80 on 400k volume. Last time it posted a similar chart pattern it double gapped down, and I had to add big to break even.
Gonna wait until Thu to see where this one goes.
Not chasing the market today.
Bought PCAR toady on that second dip today, I was kicking myself yesterday for no going long at open.
Anyways, based on yesterday's action, I'm convinced it wants a gap fill before earnings. It may even retest the top. First, it's gotta get over that resistance at $87, hopefully the market gaps up tomorrow for Ponzi 401k paypday Friday.
If you trade PCAR, you...
Volume returned to normal after the 3 day selloff on no news.
Will go back to playing this whenever I think the market is heading up. Opted not to go long because of the holiday weekend though.
Well, I dumped this yesterday morning because it popped a buck, and made some decent money. Decided to plot this to see where it's headed. Based on losing the 50DMA and the price action this morning, one has to assume the action after earnings is a bear flag.
So I plotted the bear flag and target zone. Old resistance is usually new support, and this stock...
PCAR has been doing range bound trading since earnings. It usually fills open gaps so maybe it finally pops up this time? I dunno, but picked up some stock today while it was red because it was at the bottom of the trading range.
We'll see how it looks next week.
Note: Chart is hourly, indicators don't mean anything. I just have a standard plot I use.
We notice that we are in a correction, that there is a divergence, and that there is an increase in the buying momentum. We are waiting for the end of the correction to buy
We notice that we are in a correction, that there is a divergence, and that there is an increase in the buying momentum. We are waiting for the end of the correction to buy
PCAR is forming a pennant, up side target is earnings gap fill, down side is the earnings bottom. Really weird intraday resistance at $85, which was my bull flag target that I last posted.
Market seems bullish so I'm guessing gap fill.
I've still been trading this on days when I feel bullish, I bought EOD yesterday for the PCE pump tomorrow, but I closed it out this morning when it went up 3%. That was more than my target for FRIDAY, lol.
RSI is overbought on the daily with MFI divergence. I did revise my plot though, and it looks like it COULD hit $85. I'm content with my easy 3% overnight...
