WPL - Any Retracement Lower could be a Buying Opportunity
Updated
This stock had been hit real hard during the COVID -19 pandemic because of plummeting Oil Prices. Now that we have observed Higher Oil Prices, and particularly WPL has been going up now, I believe the trend will advance further up and we may see much higher prices in the days to come.
We can see a Golden Cross, MACD has crossed and High Volume, which shows the possible change in trend.
Nothing goes up in a straight line, so since price have been moving up we have not seen a decent retracement, so I believe any retracement lower could be a good Buying Opportunity.
We might see some kind of profit taking in the Gap Window Zone, between $24.90 - $26. 40 range, so any pulback lower ideally in the Buy Zone between $20.00 - $22.50 range could be a great Buying opportunity.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
We can see a Golden Cross, MACD has crossed and High Volume, which shows the possible change in trend.
Nothing goes up in a straight line, so since price have been moving up we have not seen a decent retracement, so I believe any retracement lower could be a good Buying Opportunity.
We might see some kind of profit taking in the Gap Window Zone, between $24.90 - $26. 40 range, so any pulback lower ideally in the Buy Zone between $20.00 - $22.50 range could be a great Buying opportunity.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Note
I still have the same view and I expect WPL to retrace lower which shall be a very good Buying Opportunity.Note
Note
As expected, price has closed the Gap now, and is showing signs of weakness in the Sell Zone of $28.15 -$24.70. As it has been making Higher Highs, we can see a lower peak on the RSI (Divergence) as it is coming down from the Overbought Zone. This is indicating a decrease in Bullish Momentum. WPL is expected to rollover and come down. I am expecting WPL to drop to my Buy Zone of $20.30 - $22.30 range, where I will be waiting to buy.
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