Panera Bread

[brownsfan019]

Here's the chart again. This time the 2nd spinning top is now removed. Gotta love free charts.



Based on the red spinning top at a resistance level, I would still short PNRA and/or buy a put at today's open. I realize it's 10:30am now, but the analysis was fine even with that error from quote.com.

[brownsfan019]

Here's the longer-term chart from stockcharts.com. Looks the same as quote.com.

[TinGull]

yup, those look right now. A short could be in order, I just wouldn't take it, personally. I see a higher low and a slightly higher hi, so I'd look for a more higher odds trade to the upside at some point in the future. That's just me, though...

[brownsfan019]

In my view tin, I see a good risk/reward trade.

Today's open was 48.68.

Stop was placed above the high of the spinning top, so just above the 50.00 level would be good in my opinion. Have to watch those round, even numbers in stocks.

Assuming we are short at the open, risk was $1.57sh (assuming stop at 50.25).

Looking to cover some/all of the position near 46.00, which would result in a profit of at least $2.68/sh.

Risking 1.57 to make at least 2.68 = 1.7 risk/reward. I'd love to see it at 2.0 or higher and it could get there if it breaks thru that first support level.

[Reaver]

	Quote:	TinGull
	Oh Reaver...I didn't mention...those are TeleChart charts. I'm really debating between them and StockFetcher right now, cause I can use SF on my Mac, and be completely Mac.

Good to go. Thanks for the info.

[TinGull]

We'll see what happens come next week I guess. You could very well be right. Has been in a down trend for the past year...With volume terribly weak all across the board today, it's not boding well for the bulls as it is.

[brownsfan019]

All I see tin is a bearish candle pattern at a resistance point. That's it. I like the odds of the trade and we'll see what happens. Getting almost 2-1 on the trade, I'll take it every day.

[TinGull]

Yea, I might need to start thinking a bit simpler....I like you're thinking style

[brownsfan019]

	Quote:	TinGull
	Yea, I might need to start thinking a bit simpler....I like you're thinking style

Tin, there's a fine line between being too simple and over-thinking things. We've all been there. For me, standard candlestick analysis works well on daily charts. The smaller the timeframe you go however, the weaker they become on their own. That's something I've learned over the years.

[brownsfan019]

Tin,
Are you in a panera play? Down .20 cents today. Down 1.11 since we discussed it.




Looking for this to test the 46 area.