WEX Inc has a 40.8M float and recently initiated a $300 million share buyback. The stock has been in consolidation mode for some time and is playing "nicely" along my selected historical simple moving average (SMA). Recently, it may have double-bottomed off this SMA and, given the buyback, may move progressively up toward the $230's where there is a large price gap on the daily chart. It is currently in a personal buy zone at $180.00.Target #1 = $209.00
Target #2 = $231.00
Note
Target #1 reached for a 16.1% gain ✅✅✅.Trade closed manually
Full exited trade at original entry price with previous 16% gain taken. Have my eyes on reentry once the price gap in the $80s is closed, but this stock is getting shorted hard. Bad long-term price prediction on my part, but currently sits in my watchlist.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.