Priceline Retreats From All Time High (PCLN)

Yesterday, shares of priceline.com PCLN hit an all time high of $522 despite being hit with a downgrade from hold to sell by S&P Equity Research just one day prior. The stock is giving some of that back in today's session, however, currently trading down 1.34% to $510.04 as investors take some profits. Priceline has made a monster run this year, trading down as low as $173.32 in early June. Consistent earnings and overall fervor in the tech space have fueled this steady climb to above $500 per share. Investors shouldn't be afraid to sell into strength on this one as the 20-, 50-, and 200-day moving averages on the 52-week daily chart are all significantly below the current trading price and will more than likely be tested in the near future. The MACD and RSI indicators are also sitting at extremely high levels and just starting to turn over.