Ok Dave. I'll bite, but I could be wrong, this is the net and most people say stupid things...
Like Hold WSTL for profit, if you got in to win at 8.
While I agree with Trey that the momentum was lost on the move and that some distribution was seen at 7, the indicators haven't broken so bad to point to major change, yet.
What i would look for is a big black body day on Monday, if it doesn't happen( and you'd have to cut losses midday if it does), then "W" bottom is for real. Each spike up had the big bad marabozu when it was done.
This "W" is on the daily and hourly which portend a move to high 8's to 9. The daily chart is just turning ( on MACD histogram, Stoch and DMI) and some good follow thru this week could lead to much higher prices. The weekly is solid and improving and the monthly has been positive since the lowest prices were seen in the stock.
All in all good bottoming candidate.
BUT, I don't own so I have no buy-in. I don't like the fundamentals here, but the technicals have held for now. Still it is a speculation with a capital SPEC.
Good luck on it, I know some friends that would love to see higher prices. |
