WFG share price needs to correct to match lumber price crash
Key points:
1. Lumber is down 68%, WFG is only down 25%. WFG rallied with lumber. Lumber will likely stabilize at or below the current price.
2. Momentum channel has been broken
3. MACD has crossed below zero and the signal line has crossed the MACD line
4. Chart colorization is a reflection of MACD crossovers
5. WFG is technically in a bear market at a greater than 20% drop
6. The green line on the price chart is a long-term peak trendline that was rejected off of twice
I will begin a short position Monday 7/19 and will add every day that a new low is made, price target 50, will begin covering in that range.
1. Lumber is down 68%, WFG is only down 25%. WFG rallied with lumber. Lumber will likely stabilize at or below the current price.
2. Momentum channel has been broken
3. MACD has crossed below zero and the signal line has crossed the MACD line
4. Chart colorization is a reflection of MACD crossovers
5. WFG is technically in a bear market at a greater than 20% drop
6. The green line on the price chart is a long-term peak trendline that was rejected off of twice
I will begin a short position Monday 7/19 and will add every day that a new low is made, price target 50, will begin covering in that range.
Trade ativo
Entry: 65.61 (short)Current Price: 71.56
Stop: 78
Target: 50
Trade ativo
Entry: 65.61 (short)Current Price: 67.71
Stop: 78
Target: 50
options hedge rolled into September
Trade ativo
Current price: 80.39This is beyond my stop but my call strike is at 80 so my losses are capped and I'm waiting to see if the bump in lumber is a head fake or not before taking a loss.
Trade fechado: stop atingido
Took a loss here, you win some you lose some.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.