PCOR to close the gap this time?

After hitting the Kijun Sen line we talk about last time (PCOR breaking first resistance. More to come?), PCOR corrects as deep as 78.6% Fibonacci Retracement level. But now it seems that PCOR is ready to continue its ascend and probably close the gap. Our initial target is the Kijun Sen line at 12.88 per share but based on the recent pull back, PCOR may rise to as high as 127.2% Fibonacci Retracement level or close the gap at 13.40 per share.

RSI or Relative Strength Index is at 42

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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