It is the WEEKLY chart in PNRA (Panera Bread, $170.70, off $0.87) that has me interesting in this stock. If you backed it up and looked at the bigger picture, you can see how symmetrical the corrective declines are JUST by eyeballing the chart. I actually did the work also as you can see by the lines that crowd together on this chart at the 162.45-165.95 area. This was what I like to call a Fibonacci Price Cluster which is the coincidence of at least 3 key Fibonacci price relationships coming together within a relatively tight range. In this case the cluster identified a key support decision.
Now even if we only see a healthy correction, I’m looking for the 181-183 area on the upside in this one IF we continue to hold above the recent lows. Beyond that, the 202 handle is possible as this is the 1.272 target off the cluster zone. I will consider myself wrong the trade if the recent lows are violated!