Raise the Flag for PCOR

A rare time for PCOR to be showing some interesting signs of resilience...or is it just an illusion? Let's check it out...


What is sure is that PCOR broke through the short term resistance at 5.50 and is currently doing 5.70. What seems to be a flag looks suspect though. There is no significant volume that accompanied the break out. Yet, the MACD has signalled a short-term play as it's rallying from recent lows.

Should the current formation prove to be correct, the resistance is 5.70 and the projected upside target would be at 6.00. Unfortunately, this is too small an upside for me to even get excited.

Hopefully we'll see more issues giving us better signs in the coming weeks.

PSE stock picks for the week of June 18

Here we go with our forecast for the week. First off the bat is ICT.


Based on the chart, we see a nice consolidation that now turned into a symmetrical triangle. The resistance I see is at 29.25. Therefore, I think a buy is called when it hits 29.50. Target for the short term is 34.00.

Next is the big daddy of the IPOs before, PCOR.


Based on the chart, we can see that it broke out of a big symmetrical triangle, gapping up. Right on the day of the gap, it starts a new area pattern; a smaller symmetrical triangle. As I see this, resistance is at 5.30, so once it hits 5.40, I would buy if I had extra funds and wait for the target of 6.10.

Next posts would be on certain US stocks.