This is not a trade. I'm just flagging the fact that there's a symmetric triangle in play for WIRE.
I've been long the stock for well over a year because I like its fundamentals. Given these fundamentals I'd be surprised to see this triangle to break to the downside, but until it breaks in either direction there's no setup to go long or short. This might just be a good name to keep on your watchlist.
I've been long the stock for well over a year because I like its fundamentals. Given these fundamentals I'd be surprised to see this triangle to break to the downside, but until it breaks in either direction there's no setup to go long or short. This might just be a good name to keep on your watchlist.
Comment:
The upper edge of the triangle is now getting challenged. A long entry would be at 182.19 for me.
Trade active:
The
WIRE
symmetric trangle pattern is now active. My first target is at 201.70.
WIRE
symmetric trangle pattern is now active. My first target is at 201.70.
Trade closed: target reached:
Just for housekeeping's sake: Yesterday's jolt pushed WIRE past the target price and there's more follow-through today. The swing trade is complete. I will remain long as an investment.