PCLN will need to bounce from the 1275.65 midpoint pivot shown to reassure bulls that the selloff from Monday’s high isn’t about to get legs. The pivot can be bottom-fished with a stop-loss as tights 0.20, but brace for more downside to D=1264.51 if it gets tagged. Like AAPL, this stock has failed to reach an important target with its most recent thrust. The target lies at 1358.18, but PCLN went no higher than 1329.90. This is missing by a mile, and we should pay close attention to any weakness that follows in its wake — particularly to minor abcd downtrends that exceed their ‘d’ targets, since that would be warning that the selling is picking up strength.
