Time to Hook Up with PC Connection

• Posted by Greg Harmon
• on December 17th, 2014

So Janet Yellen saved the day again simply by not changing anything. Don’t you wish you could be a superhero that easily? Stocks continued higher following and all is right in the world until tomorrow.

If you came into this week like me, you had a lot of short ideas and a few long ideas that seemed like they were bucking the trend. Now is time to review those trend-buckers. One on my list was PC Connection, $PCCC.

The chart above shows that to start the week it was nearing resistance from a higher low. The series of higher lows is creating rising trend support as well. The momentum indicators were also bullish. The RSI was rising and the MACD crossed up and rising as well. It just needed to break resistance to trigger as a trade.

Well Janet helped that along. Wednesday it broke out to the upside. Next target is the 24.75 area where it can determine if it will continue higher or settle into a Handle to go along with the Cup. Either way this stock looks like one to connect with.

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