WTF Chart of the Day: Priceline.com

Priceline.com (PCLN) is getting close to the $1000 mark.

The reason I pull out this chart is that it has gone thru the phase where Tesla is going through right now. Thus it will show you what I expect from Tesla from its recent high. What is happening now to Tesla, is what happened to Priceline back in 2012 where it went thru a blow-off top setup against the 600% expansion. A pullback to the 400% level is likely and that was exactly what happened to Priceline back then.

On weekly basis, once Priceline close below the the $910 zone, it will likely fall back down to the year 2012 high quickly. What happens after will depend on how the price arrive at the support zone in the coming months.

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