PCOR breakout update

Petron Corporation

PCOR is on breakout continuation after breaking the 11-month downtrend line. Projected target price from this breakout is around 11.80.

See previous analysis for details on prior breakouts:
https://psetrends.blogspot.com/2017/05/pcor-price-action-update.html

PCOR price action update

Petron Corporation

PCOR has already hit the projected target price around 10.50 from its 9-month downtrend line breakout.

See previous analysis for more details on the breakout patterns:
https://psetrends.blogspot.com/2017/05/pcor-on-breakout.html

Trading Plan
- Take profit or scale down position (should have been done already after hitting the TP)
- Profit run the rest of the position with trailing-stop.

PCOR on a breakout

Petron Corporation

PCOR is on a breakout from an Ascending Triangle pattern with a measured price target around 10.00.

It's also on a breakout from its 9-month Downtrend Line with a projected price TP around 10.50.

Trading Plan
- Buy near the breakout area.
- Set stop-loss on breakdown from recent swing-low (like a few points below 8.95).