PCAR Update
Updated
Looks like toast, lol.
I revised the bear flag target based on the pump last Friday. CAT got an earnings gap fill and is dropping now. The fact that PCAR didn't fill its earnings gap makes me very bearish, it's filled every gap since COVID. Feels like it's topped out.
I revised the bear flag target based on the pump last Friday. CAT got an earnings gap fill and is dropping now. The fact that PCAR didn't fill its earnings gap makes me very bearish, it's filled every gap since COVID. Feels like it's topped out.
Note
One thing I've noticed trading PCAR is that it gets follow through on the afternoon trend the next morning. The problem is that it also tends to fill down gaps and options spread is big in the morning for the first 30 minutes to an hour. So I'm not shorting it, besides, I don't like to short the market on Fridays.CAT is a better options trade if you want something in the same sector.
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