Monday, November 12, 2007

PNRA - Panera Bread


PNRA had advance from $2.50 to over $70 during it huge Bull move and has recently declined to the high $30 level as the consumer worries and profit takers have taken center stage and cut into those huge gains...Needless to say, no matter what there was some retracement bound to be in the cards for this name...My point on PNRA being that right now, this one is heavily oversold, and the overall market is likely due for a counter trend for some quick upside, it looks good, considering it is sitting at LONG TERM SUPPORT which is the green trendline...Plus this represents an excellent area for the placement of STOP LOSS orders to keep a tight leash on the downside if things go other than expected...

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