03/02/15 – PBI NYSE – One of my 2014 Watch list candidates that didn’t make the cut. I have cancelled my Stop Buy order for this stock as the range bound period has broken to the downside making this a very complex wave 4 and the order has been on since November last year with no real movement. Although the indicator look good for this and the price has found support at the Fibonacci 0.5 Retracement level, their is a strong possibility that the price will go into another range bound period. I must also consider that the 50 Day Moving Average (yellow line) will act as resistance to any Bullish move in the near future. Not all my trades make it to trigger and I feel I have given this potential trade more than enough time. Chart as Below
06/12/14 – PBI NYSE – The high volume Bullish move last week for this Stock caught me by surprise but there is still enough Risk to Reward to still enter this potential Long Trade. There are 8/9 of my trade setup indicators in the green and with the MACD just crossing the zero line into +ve territory this trade is setting up well. The previous Wave 3 was a very Strong Bullish move with an unbroken False Bar Stochastic (yellow horizontal line at top of stochastic study) and makes this potential Wave 5 a high probability as the market will want to return Bullish and test the previous Wave 3 high. Last weeks high broke the 6/4 MA High line and importantly closed above it so I will be placing my Stop BUY order just above last weeks high to enter @ 25.70 . The Stop Loss is @ 22.28 and the initial Take Profit Limit Order is @ 32.00, giving a Risk to Reward profile of 1:2 for this potential Long trade on PBI NYSE. Charts as Below for the setup of this potential trade.