Everyone was getting excited about PCLN after earnings about a potential move to $1000.00. That was NOT the time to buy….that was when we made the recent highs! Now that PCLN has pulled back a bit I have a buy setup that I’m looking at. I like to keep the “edge” in the market so I wait for pullbacks before getting involved.
So the Fibonacci price cluster I’m looking at here comes in at the 943.77-949.22 area. As long as price holds above this key support, I am looking at bullish options strategies. If the recent low remains intact, target 1 comes in at 1007.49. If we break the key support below instead, I will consider myself wrong the trade and exit.