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.
Dagangan aktif:
Entry: 65.61 (short)
Current Price: 71.56
Stop: 78
Target: 50
Current Price: 71.56
Stop: 78
Target: 50
Dagangan aktif:
Entry: 65.61 (short)
Current Price: 67.71
Stop: 78
Target: 50
options hedge rolled into September
Current Price: 67.71
Stop: 78
Target: 50
options hedge rolled into September
Dagangan aktif:
Current price: 80.39
This 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.
This 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.
Dagangan ditutup: hentian tercapai:
Took a loss here, you win some you lose some.