Bad news: no northward break happened.
What’s worse? The eery silence brought about by the multi-month consolidation of Petron Corporation (stock symbol: PCOR) ended in a disaster as price gapped down, easily breaking 13 and 12 in one fell swoop. PCOR’s drop skirted the September 11, 2013 low at 11.42 by a whisker.
Beyond the gap, the near-term resistance remains around 14-17. Support, meanwhile, has moved down to 10-12.
The Detrended Price Oscillator (DPO) dropped in line with the quick decline seen in price, but is now back up above the zero level.
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