Pandora $P completed a price bottom in 2018, rallied, but is now consolidating and pulling back down. Pandora Daily Chart(click to enlarge)Pullback :- Even though Pandora appears to have shifted from bearish to bullish, there is a lot of market risk at the moment that can drag down a growth-focused name like Pandora.- In anticipation of another market downturn, I would anticipate the consolidation in P to also extend lower towards the $7.00 area. - We can see that this $6.75-$7.00 area was a previous support pivot.- But with a volatile name like P, we have to give it elbow space down to $5.50, which was the resistance of the 2017-2018 consolidation range and price bottom. - In fact if the general market sentiment has a couple more legs down, Pandora might pull back deeper to $5-$5.50 area. - A break below $5.00 however signals something wrong with the recovery, and opens up the bearish continuation scenario.