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.
Transaction en cours
Entry: 65.61 (short)Current Price: 71.56
Stop: 78
Target: 50
Transaction en cours
Entry: 65.61 (short)Current Price: 67.71
Stop: 78
Target: 50
options hedge rolled into September
Transaction en cours
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 fermée: ordre d’arrêt atteint
Took a loss here, you win some you lose some.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.