Pancake House (stock symbol: PCKH) has “cooked up” two volatile gap-up moves right at the 40 level since June 30.
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After the “pancake toss” to the July 10 high of 90, this pancake has flattened out around the 60 level. If broken, this important area would open the opportunity for a gap-closing ceremony all the way back to 40. Resistance lies around 80-100.
The Detrended Price Oscillator (DPO) has remained below the zero level for quite some time now.
Given the volatility we’ve seen in Pancake House, you should tread very carefully.
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IMPORTANT: Change of corporate name — PCKH has been replaced by MAXS starting September 5, 2014.