This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Nearest Resistance: $15
Nearest Support: $12.50
Catalyst: Earnings Anticipation, Upgrade
Pandora Media(P - Get Report) is getting investor attention for a couple of reasons today, as reactions to an analyst upgrade from Stifel Nicolaus and this evening's earnings call drive investors to take a second look at shares. While Pandora is getting sold off ahead of what could be a volatile earnings call, shares are still forming a bullish setup in the longer term.
Like Vail Resorts, Pandora is forming an inverse head and shoulders setup. The slanted neckline in Pandora makes this trade a bit more complicated than MTN's but the implications are the same if Pandora can crack above resistance.
Ultimately, earnings are going to be a critical factor in whether this pattern plays out or folds. An earnings beat tonight could send Pandora on a breakout through that neckline.
Pandora, which shows up on a list of
4 Tech Stocks for 2012, was also featured in "
7 Undervalued IPO Stocks That Could Rebound in 2012."