PACCAR Inc.Long
Strength on PCAR stock
Paccar Inc. stock looks strong. We can see that since October 2024, the largest volume occurred after publishing earnings reports or on ex-dividend dates. Please note that:
- All bars on those days are down with the closing price in the middle of the bar which in Volume Spread Analysis (VSA) indicates strength.
- The volume on the October 22nd 2024 daily bar is the largest till now and the current price is above it.
- All professional activity after October 2024 is happening around the buying zone created during the October 22nd bar (blue rectangle $104.38 - $104.91).
- Recent buying (February 12th) breaks the previous low ($102.64) and recovers above that level which is a Wyckoff's Spring.
This all is very bullish. Still, the last testing showed the presence of supply.
If professionals can absorb the supply, we may expect a rally towards $116.01 - $117.83 with potential resistance in the $112.18 - $114.73 zone. Otherwise, another leg down to $100.01 for more buying is possible.
- All bars on those days are down with the closing price in the middle of the bar which in Volume Spread Analysis (VSA) indicates strength.
- The volume on the October 22nd 2024 daily bar is the largest till now and the current price is above it.
- All professional activity after October 2024 is happening around the buying zone created during the October 22nd bar (blue rectangle $104.38 - $104.91).
- Recent buying (February 12th) breaks the previous low ($102.64) and recovers above that level which is a Wyckoff's Spring.
This all is very bullish. Still, the last testing showed the presence of supply.
If professionals can absorb the supply, we may expect a rally towards $116.01 - $117.83 with potential resistance in the $112.18 - $114.73 zone. Otherwise, another leg down to $100.01 for more buying is possible.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.