Priceline Technicals Look Ugly

Shares of online travel reservations firm Priceline.com PCLN are getting hammered today after the company announced disappointing second-quarter guidance yesterday after the close. That news and today's ensuing price action has Priceline's technicals looking less than appealing. According to technical analysis by Piper Jaffray, a close below $240 would violate Priceline's 50-day moving average as well as an uptrend line that started in the third quarter of last year. Priceline shares are currently down more than $40 and are trading below $210.