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...
Well, it actually hit my bull flag target, lol. Yes, I did grab a few bucks off of it, but wish I had gotten more of it. Oh well. Anyways, looks like a repeat of last June or August, might go long for a day if it double gaps down tomorrow. Not playing the gap fill today, I'm guessing it double gaps. Also, daily RSI hit overbought, so it's probably cycling...
One of the first stocks on my board to go red after the big pump this morning. I have seen PCAR act like this before, it's on a definite downtrend as shown with the purple line. Don;t go long until it breaks that line. Just warning my followers since I'm usually very bullish on this stockl
No really sure if this is a true e=pennant or if it's just going flat like last summer (highlighted) Kinda surprised it finished flat on a day the market tanked, not sure if that's bullish or just part of the whipsaw. Indicators all flatlined as well.
Pennant just got bigger. Based on the fact that PCAR did not set a new calendar year high with the market, I don't think this is breaking out. Also sold off the John Deere earnings pump as did DE and CAT. \ People who trade industrial sector are a bit more grounded than the rest of he traders, this isn't a tech stock, lol. I was actually surprised by the...
PCAR is forming a pennant, there is an open gap above but I don't think that guarantees that this breaks upwards. I also have a bias towards pennant being a continuation pattern, not a reversal. Either way, I think it whipsaws at least a couple more days. Note: This is an hourly chart so indicators aren;t very meaningful unless you are day trading.
Looks like the regional bank whipsaw again, lol. Same pattern as last time when SIVB went belly up, the highlighted area. I'll wait until daily MFI gets oversold, PCAR always bounces then. Wasn;t sure which way AAPL earnings was gonna go yesterday afternoon, so I stayed out. WOuld have been a nice one day trade though, I love big gaps.
PCAR left an open gap this morning. Appears to be drifting sideways after the January earnings pump. Might buy in tomorrow after the Fed meeting.
Looks bullish, but having issues regaining the upward channel. Have not re-entered this trade after dumping Tuesday morning because my ES1! (SPX futures) indicators have not shown a buy signal. I think the strength this week is because of earnings next week, this did get pumptarded last quarter. As I posted before, semi truck sales have been strong this year,...
Looks like crap today, lol. I did post that I sold all my shares yesterday morning right after I sold. Bull scenario is still the green line but it looks just the same as it did when it failed to break out and tanked on bank news. Overlay is that drop. Even with my bear scenario, it still gets a pre-earnings pump like last quarter, so there's a chance to play...
Daily MFI went oversold which is very bullish, plus I think ES1! (SPX futures) fills the open gap above. Not sure if it does it this earnings or July, but I think PCAR hits my $82 target then drifts sideways for a while. If today wasn't the local double bottom, I'm adding on the drop. I also revised my wedgie into a parallel channel.
Looks to me like it's finally gonna get that gap fill either tomorrow or Monday. Earnings a month from now. Went long this morning. Probably just gonna hold if the market whipsaws.
All of my followers know that I have a gap fill rule for PCAR, it always fills down gaps. Unfortunately, this looks more like the "oh shit" moment that happened at the beginning of the COVID drop. I lost quite a bit of money on that, if you remember it dropped hard the next day, and that gap stayed open for a long time. Fact of the matter is, this bank issue is...
The bull scenario for PCAR is that I drew the wedgie wrong and it's still in an ascending wedgie. I had plotted $81 - 82 as the target before this bank crisis. the market does have a weird tendency to rally into a Fed meeting even when the market expects a rate hike. Remember he Jan meeting?
This chart pattern it posted today reminds of f previous tops. Market went green but PCAR dumped the gap almost immediately today. Overlayed a previous drop, I think this megaphone pattern continues until next earnings. No position.
Been staring at it all week since it left an open gap Friday, finally decided to play it this morning as noted in my ES1! post. PCAR always fills open down gaps, so I figured it's the best play I can find on a whipsaw day. looking at how MFI went up, I'm thinking it might go overbought again on the daily which means this could be a bull flag. So I posted 3...
I was looking at the chart today thinking PCAR hasn't moved like this since the COVID bounce.... then I realized last year was a bull flag. So funny thing is, the target here is the same as my daily chart, $81 - 82 range, maybe slightly higher. Might not hit the target until next earnings though, which is April 24th.