A Beautiful chart

Discussion in 'Stocks' started by kivd, Jan 21, 2012.

  1. kivd


    Check out this chart of WPO a company with horrible fundamentals showing an extremely bearish pattern.
  2. Care to explain why you consider the chart to be depicting a extremely bearish pattern.

    Given that you are correct how would you play the stock?
  3. BCE


    Given your comments and looking at this chart, I'd say you must be short. :) Guessing you shorted this around 306-315. :) Doesn't look very bearish to me.
  4. N54_Fan


    Actually,...I think it looks quite bullish. Looks like a bottoming pattern with a new UPTREND about to start. Only reason to short here is if you think there will be a reversion to the mean.

    Clearly the weekly, daily, and 60 min charts are all BULLISH. All 3 time frames have bullish EMA crossovers and rising MACD whild MACD is above 0 and ADX rising and above 25 as well. Only signs of bearishness is the bearish divergence of the daily MACD histogram which suggests a reversion to the mean is coming soon... but that is definitely NOT extremely bearish.

    Just my 0.02