Stock Watch (Oct 9-13, 2006) PCOR

PCOR (Chart: Daily Resistance: 4.16 Support: 3.85)

PCOR is forming a symmetrical triangle. I earlier commented that this stock has a negative outlook as the sell down from Sept 5-14 was accompanied by substantial volume, the MACD was below zero line and signal line. But currently, volume is also substantial in the upward movement and the MACD has crossed above zero line which now implies a positive outlook. The recent increase in trading volume suggests that this stock has caught the attention of some traders. If resistance is broken with volume, a possibility of near 1 peso increase in price.