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PCAR Chart Followup
By Stock Charts | May 3, 2007
I previously wrote about Paccar’s great looking uptrend, while noting some concern about some insider selling. Well, earnings were released last Tuesday and Paccar (PCAR) blew away Wall Street’s expectations, causing a 9.9% gap up that easily surpassed the previous 52 week high of $79.29. While international sales outside of North America are booming, sales in the US and Canada reflected weaker demand.
If you had previous holdings in PCAR, it would be wise to take some profits here, as it is hard to ascertain at the moment which direction the stock will go. This could be the start of a new leg up; however, I would wait to confirm this before taking a position.
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Topics: Stock Charts | 1 Comment »
May 3rd, 2007 at 8:18 pm
Couldn’t believe the move in PCAR! Sick earnings release too. Nice chart WSM.
-Sam from MarketMatador.com