The stock need only eke out a small gain to turn the daily chart hell of bullish, but if we are intent on catching the next significant rally, it should await either a proper signal that would follow a b-c pullback; or the availability of camouflage on the lesser charts, following a marginal upside penetration of the 1235.09 high (see inset). There is no certainty that either will occur, and if PCLN instead simply falls, it could go to 1165.72 before finding traction, or even to 1093.35, worst-case. _______ UPDATE (11:27 p.m. ET): DaBoyz pushed this mirage above peak #1 (see inset), setting up a possible ‘buy’ signal for camouflageurs. What I like about the impulse leg (A=1204.37) is that it exceeded the prior peak by just $2 — barely noticeable as a breakout. It is, though, and that’s why any legit b-c pullback should be bought. _______UPDATE (April 28, 12:05 a.m.): Friday’s plunge mooted the potential buying opportunity described above. The next, I surmise, will come at the 1104.18 target shown. Until then, and barring an impulsive rally on the hourly chart, the stock’s an enticing short.
