goo.gl/1cUgzK Simple technical analysis suggests PRAA stock price is resuming its uptrend.
Here is what I've spotted at the daily chart:
1. Retracement back to the major trend line. Confirmation in December, 2013.
2. Confirmation occurred at another key support and resistance level at $50. Also a round number!
3. The trending channel of the pullback that began in November is failing today. Stock price has penetrated the upper band.
Disclaimer: I'm long PRAA.
Here is what I've spotted at the daily chart:
1. Retracement back to the major trend line. Confirmation in December, 2013.
2. Confirmation occurred at another key support and resistance level at $50. Also a round number!
3. The trending channel of the pullback that began in November is failing today. Stock price has penetrated the upper band.
Disclaimer: I'm long PRAA.
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