PCOR has been in a sustained uptrend for 6+ qtrs. It's currently in a TTM Squeeze and the price just bounced off the 21 EMA (for a decent entry). We also just cleared the prior high, providing a nice new support zone. Rather than buying calls, I'm going to sell some PUT credit spreads on this one.
As we see, price is sitting right at the CL.
But what does this even mean, if price is at the Center line?
It is, that price has found it's balance.
Anything can happen from here.
Chances for Long or Short are 50% in general.
Any other hints from the Chart?
Yes!
Price jumped above the CL.
Then it bounced back two times.
In between jump 1 and 2, price got hit...
$PCOR showing strong IPO price action. Setting up nicely here for a potential move into ATHs this coming week. Volume pattern looks strong too.
Procore Technologies Inc (PCOR)- PROVIDES CLOUD-BASED SOFTWARE FOR MODERNIZING AND DIGITIZING CONSTRUCTION MANAGEMENT.
