Well.....
The OBV and RS in WLS are so low that it can't generate a lot of upside momentum, even with good buy signals and extreme oversold conditions:
139.142.147.19
On one hand, WLS has lifted off the lower BB rail and seems to have found a bottom for now. But on the other hand, it can't generate a lot of momentum off that bottom.
Personally, I don't think WLS is finished. Now we have confirmation of the long-term downtrend with a bear cross last month:
stockcharts.com[w,a]daclyyay[dd][pb50!b200][vc60][iLb14!La12,26,9]&pref=G
I think it will drift sideways to slightly upwards, hit resistance from the declining 20 sma (or possibly as high as the declining 50 sma), then fail there and resume the long-term downtrend it has confirmed.
Seems to me the first target for a final bottom is $65:
stockcharts.com[w,a]waclyyay[df][pa65!b20][vc60][iLb14!La12,26,9]&pref=G
WLS may not stop there; we'll need to see far more volume to stop the slide in WLS IMHO.
Most likely, that won't come for quite a while, and WLS trading at levels that are considerably sub-$65 is entirely possible in the coming months.
I know it has a single digit P/E, but that's not so unusual for the sector. Looks to me like WLS remains a very good candidate for a short position as it rallies into resistance. However, the short ratio from January was 6.4, so there's moderate cause for concern from a short squeeze.
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