VWTR Good Entry Point on back test of 30 week MA
Updated
VWTR broke out on huge volume in June/July and I had it marked on my watchlist for a pullback. For the first time since the breakout, it is re-testing the 30 week moving average currently at 11.48. Set a low last week and this morning at 11.44 and is now reversing perfectly off the 30 week MA. Good long term long entry with a stop below the 30 week moving average or below the 200 day MA which sits about a buck lower. I'll be adding to a position here. If it breaks the 30 week MA I would still hold and see reaction at 200 day MA.
Comment
Today would be the day, bounced off 200 day MA at 10.95 this morning. I would set a stop below today's low. If that breaks get out and reevaluate. If it holds today will be a great entry pointComment
if you were stopped out below 10.95 intraday, it never closed the day below 200 day and finally popped. If you are still in as long as the 200 day holds I still believe this is a good buying opportunity. Close out on a daily close below 200 day MATrade closed: stop reached
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