PCAR Radar

PCAR 10.14.09Keep this truck manufacturer on your radar for a possible H&S formation as there are a few other factors in play here.  #1 they report 3Q earnings 10/27 and if I were a stockholder I’d certainly be taking profits ahead of auto earnings.  #2 The broader picture reflects a Bearish rising wedge which would play out in January and we know what January’s are known for.  Yep, big profit taking.  Wait for a break of the neckline with increased volume.  Target of $30 🙂

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