[divider]
Last Update: 5.23.13
[divider]
5.16.13 Thursday
[divider]
Entered Bullish Positions @ $18.30
As you can see, it broke out on 5/18/13 with such a high volume (see arrow), it totally got my attention. But I wanted to wait and see if we are going to see any follow through next day and we didn’t get any. It slowly turned over and came back to the support level while the volume started to decrease.
I thought to myself. Is this the end of that breakout which it had such a huge volume we can’t ignore? We found so much buyer at this level (5/8/13) and possibly after a some sort of pullback, another bounce is in stored?
I thought maybe we can have another bullish breakout if the bulls can defend that support level so I decided to go long when I saw a white candle coming up early in the morning.
This stock has been badly beaten so I understand that this is rather risky play seeing how far it came down but if it works out, it could turn out to be a huge winner. Will see.
[divider]
5.20.13 Monday
[divider]
Nice Run Up with Volume
Here are few things I like on today’s move.
- High volume. Today’s volume engulfs last 8 trading days.
- We are now trading above 10 and 20EMAs.
Now the next task would be to close above recent resistance level of $20. Can we have follow through tomorrow or short-term retracement?
[divider]
5.22.13 Wednesday
[divider]
Closed 75% of the Long Positions @ $19.32
With market where it is today, I want to avoid possible gap down action tomorrow.
[divider]
5.23.13 Thursday
[divider]
Out of the Remaining Positions @ $18.70
2 thoughts on “$WLT Bottoming?”
Sheesh, you could find a baby bull among a village of giant bears…I ignore or overlook charts such as $WLT and $WMB but I see you have to look closer even at the stocks that appear to be doing nothing. Nice tech analysis Kim, genius lol
Dorahc22 lol well this one I am kinda testing the water and see if we can turn this thing around completely =)