Long
More Volume at the bottom
This is not a Double bottom like textbooks but this is clear support from a Weekly point of view accompanied with a high a volume and a high volatility in the recent weeks.
and if you look a daily chart you can appreciate the past price rally and its respective pullback and the most important here is a new Higher Low above the major support.
To be more clearer: major support= 1.20 new Higher Low= 1.45 Go to the daily chart and appreciate this detail
Obviously this idea need more time to mature and more price evidence, for example a price rally for the 2.00 level accompanied with a weekly closing candle above the 2.00 level and a new pullback for making the second Higher Low. This means the price is building a bull trend (Higher Highs and Higher Lows) This need patience because I share my ideas starting from the weekly charts and some people think weekly charts are boring.
But my picks are for serious Investors with a long term perspective. And accompanied with a Fundamental research making by you I only provided good entry points with the help of the Technical Analysis in your hands is the decision to enter and maintain the position for several months or even years. Establish a Stop Loss and a price target based in past support levels. Like 10.00 level
one last thing. Not because the price of this stock is cheap that do not means this is a penny stock
Look make the Fundamental homework here:
wpcsir.com/financial-filings/
marketbeat.com/stocks/NASDAQ/WPCS/
zacks.com/stock/research/WPCS/company-reports
thestreet.com/quote/WPCS.html
and if you look a daily chart you can appreciate the past price rally and its respective pullback and the most important here is a new Higher Low above the major support.
To be more clearer: major support= 1.20 new Higher Low= 1.45 Go to the daily chart and appreciate this detail
Obviously this idea need more time to mature and more price evidence, for example a price rally for the 2.00 level accompanied with a weekly closing candle above the 2.00 level and a new pullback for making the second Higher Low. This means the price is building a bull trend (Higher Highs and Higher Lows) This need patience because I share my ideas starting from the weekly charts and some people think weekly charts are boring.
But my picks are for serious Investors with a long term perspective. And accompanied with a Fundamental research making by you I only provided good entry points with the help of the Technical Analysis in your hands is the decision to enter and maintain the position for several months or even years. Establish a Stop Loss and a price target based in past support levels. Like 10.00 level
one last thing. Not because the price of this stock is cheap that do not means this is a penny stock
Look make the Fundamental homework here:
wpcsir.com/financial-filings/
marketbeat.com/stocks/NASDAQ/WPCS/
zacks.com/stock/research/WPCS/company-reports
thestreet.com/quote/WPCS.html
Trade closed: stop reached
If things don't work then close the trade especially when the price drops below 1.20 the things and the aspect of the whole idea change you just need to recognize that things are not working
Disclaimer
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.
Disclaimer
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.