Time For A POOL Change; This Water Is Murky
With more than 3,400 employees and over 300 locations worldwide, Pool Corporation (NASDAQ: POOL) leads the pack as the world's largest wholesale distributor of swimming pool supplies, equipment and related leisure products.
Check out the long term chart of this company since inception to the public market.
The performance has been tremendous, just since the 2009 lows it has gained over 700%. It's pretty clear to longer term chart watchers the bullish trend remains in place, but when you look at price targets we may be getting a different story. One way to do that is to look at Fibonacci price targets or extensions.
The Daily chart isn't helping either for the bulls, showing a reversal pattern known as an outside day and some negative divergence with momentum!
John Butcofski & Kimberly Swartz
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