The following notes & chart outline a potential bottoming trade in P, Pandora Media Inc. Please log on or sign-up for your free 3-week trial period to view this post.
P (Pandora Media Inc) appears to offer an objective long entry here for a bounce trade up to at least the 9ish level & possibl=y the 10 area. On the daily time frame, followed by the 60-minute chart below, Pandora is backtesting this downtrend line following the recent breakout while the PPO trend indicator (9-ema) remains above the zero line following the recent bullish cross. As the 60-minute & daily charts still indicate that a continuation of the downtrend off last Thursday's highs in QQQ is likely to resume on a break below 143.00, this is only being shared [...]
My mistake on not specifying the stop on the P (Pandora Media Inc) long-side bounce trade, which was based off the 60-minute time frame, to be based on stop on a 60-minute candlestick close below 10.25 vs. any move below that level as I typically do with trades based on that time frame. P experienced 3 stop-clearing brief dips below 10.25, closing back above the 10.25 level on each of those instances to go on & ultimately hit the first profit target so far. As such, P will be considered stopped out for a loss of 3.9% & moved to the [...]
The following charts & notes outline the entry criteria, suggested stop & price targets for a swing trade in P (Pandora Media Inc).
The P (Pandora Media Inc) short trade gapped below T1 to open at 11.15 yesterday, where any standing BTC limit orders set at T1 would have been executed, providing a 21.7% profit on the trade. As T1 was previously revised to be the final price target, P will be moved to the Completed Trades category. The updated daily chart is below, followed by the two previous daily charts associated with this trade. P daily Oct 27th As posted earlier today, I am in the process of updating the official trade ideas on the site. Several updates have [...]
The P (Pandora Media Inc) Active Short Trade has now clearly taken out the 12.80ish support level with today's gap down, sharply increased the odds that T1 will be hit. Also note that with the broad markets still holding above the key "flashpoint" support levels for now, I am revising the final target to the first target, T1 at 11.72 on the P short trade. Previous & updated daily chart: While the former T2 & potential T3 target levels still have a good shot of being hit, especially if the broad markets start to move impulsively lower soon, one [...]
I received some positive feedback regarding update the trade ideas in video format & will look to publish video updates on the trade ideas on a regular basis going forward. This video covers all of the recent active trade ideas, some of which have just recently exceeded their suggested stops. The video also starts out by covering an unofficial trade idea, CARA (Care Therapeutics Inc) that was posted in the trading room earlier today. I also discuss my own preference to temporarily suspend stops on most of my positions due to the increased likelihood of those stops being clipped over the [...]