PARL
Previous post for parl can be found in the archives on 4/12/06 (ctrl+f with the word PARL and you’ll find it). The chart from that post is here when prices were 30% higher than they are today, and that chart shows technical reasons for the recent sell off.
Today, here is the weekly count, which shows it has broken major C support, a very bearish thing. PARL sure doesn’t smell so good right now. I expect to see 6.00 tested, and bearish bias holds whilever price is under the 12.30 “C” resistance. Paris Hilton might look pretty good, but don’t let looks deceive you.
I note that PARL forms part of the Parabolic Stock Portfolio No. 4 here, a short port filtered from equitytrader.com’s worst rated stocks. PARL delivered early +7% profits to that port but has since strengthened to test the major C referenced in the chart.
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Great entry. I am selling my shares at open on Monday before it drops any further. Maybe I will buy back below $6
Parl Holder - June 24th, 2006 at 7:10 pm
Hello Parl Holder. Welcome to the site! I hope that whatever you do with your shares it is profitable!
Ensure to read the disclaimer page at the top left and whatever you do with your long position, make sure it is in accordance with your own formulated trading plan. If you dont have one, then seek some professional advice before acting. Remember that posts at this site are not recommendations to buy, sell, or hold any security, and merely for entertainment and educational value. All readers must do their own due diligence and accept total responsibility for their trading actions. Anyone not prepared to do this must quit reading this site immediately and seek professional investment broker help regarding their investments.
Best to ya!
admin - June 24th, 2006 at 7:49 pm
[…] For those expecting a bounce from PARL soon, the band action sure isn’t whispering confidence. It sure has fallen out of the ugly tree hasn’t it? TA is still suggestive of $6.00 then $4.00 support, although I do note it is near solid price support of $7.42 from May ‘05. Note the volume in that week was very high indeed, and should that price support fail, I anticipate a $4.00 stock price for it relatively quickly. And that area would certainly be a great place to look for a clever r/r entry to target a rosey smelling 100% profit. Previous TA discussed HERE […]
Technical Trades » PARL band action a concern for bulls - July 16th, 2006 at 5:16 pm
Dear Parl Holder,
I note that price has fallen 25% since you posted your comment. Congratulations on a great decision. May I suggest you stalk the $4.00 area for a good risk/reward long setup.
spikefader - July 16th, 2006 at 5:21 pm