PCLN Price Line Group has been rebranded to Booking Holdings in 2018 because it reflects the company’s best performing business. Everyone who travels is familiar with Booking.com and will not waste any words and time explaining the company.
The short position has been taken on price support violation into the market close anticipating bad earnings the next day. Entry was on a small 5 minute time frame for the next day.
The anticipation has been correct and next day it opened with a huge gap down. See the double top after wave 5 which was my indication of a bearish continuation the next day.
It went all the way down to 1220 with huge profits. Following news and data is essential when trading stocks and combining with technical analysis will provide an edge with big potential for profits.