Detail is on the chart
This is a dividend play!
This is a dividend play!
Comment:
Squeeze attempted in early trade but quickly pushed out.
Very strong bar on very large volume.
WES is ex Dividend Monday, so only 2 x trading days left.
If you participated in this trade, then as a courtesy, I intend to start unwinding my longs.
I was thinking about a Put/Warrant to protect but they are too expensive.
Time to take profits.
If the markets remain strong I would expect another push up on weakness and on Friday afternoon.
Thank you for your support (likes)
Very strong bar on very large volume.
WES is ex Dividend Monday, so only 2 x trading days left.
If you participated in this trade, then as a courtesy, I intend to start unwinding my longs.
I was thinking about a Put/Warrant to protect but they are too expensive.
Time to take profits.
If the markets remain strong I would expect another push up on weakness and on Friday afternoon.
Thank you for your support (likes)
Comment:
Well it could have been worse. Look at Telstra (TLS)!
Approx 6m+ shares traded today (avg is 2m) most of which traded during the first hour, incl abt 1m accounting for the early push down.
On a positive note, that pretty well exhausted the selling and the rest of the day drifted higher - bullish close bar with a (lack of) seller absorption pin.
I expect this stock to trade to $43.75 +/- 0.10 tomorrow, depending on overseas markets tonite, with the push higher materialising in the afternoon.
I also expect this stock to be down $2 from tomorrows close on Monday.
... But we will see.
Approx 6m+ shares traded today (avg is 2m) most of which traded during the first hour, incl abt 1m accounting for the early push down.
On a positive note, that pretty well exhausted the selling and the rest of the day drifted higher - bullish close bar with a (lack of) seller absorption pin.
I expect this stock to trade to $43.75 +/- 0.10 tomorrow, depending on overseas markets tonite, with the push higher materialising in the afternoon.
I also expect this stock to be down $2 from tomorrows close on Monday.
... But we will see.
Volume increased to 3.3m today vs 2.2m avg of late and included 330k of options exercise, which is textbook for a run.
Short O/I was 600k+ 2 days ago so I will follow this.
For the triple bottom to work, WES needs to clear the 4 Jan hurdle of $42.80 which then sets up a new target of $45.50 which is the high of Oct and then a potential double top - (which I don't think will work coz that suggests a longer term target of $35 minimum!).
Anyway I get ahead of myself.
Immediate ST concern is that area at $42.80
Buy the dips
... just my 2c worth ...