Pacific Capital Bancorp (NASDAQ:PCBC) : Consolidating

After it’s breakout of its resistance at $2.16 with high volume, PCBC seems to be consolidating as indicated the flattening Tenkan sen and Kijun sen.

Next resistance is $2.66 and $3.18

If it can break the above resistance, we may see PCBC rally till about $4.79

A pretty good risk-reward ratio given that it has a pretty small trading range.

At the same time, it is now hitting its resistance in the Weekly Chart

By iam802

Trend trading with Ichimoku