Stock Chart Analysis PRSC

Posted by downtowntrader | 9/05/2007 09:14:00 PM | 0 comments »

Stock Chart Analysis PRSC

The Providence Service Corporation (Public, NASDAQ:PRSC)

PRSC is coiling into a triangle after clearing a several month long tight base. Volume surged on the initial breakout and has been drying up as it consolidates. There was a strong candle that gapped under the base and then closed at new highs in mid August. Sometimes these moves catch a lot traders by surprise, including some institutions. The fallout sometimes takes weeks to sort out, but usually, it's in the direction of the initial surprise move.

Good Trading,


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