WK just busted through some overhead resistance to new highs. It did so on light volume though, which is always a concern. I'd look for a pullback near 60 on a retest of the trendline to get in. Stopped out if it breaks back down below 58.
These cloud stocks are pretty unpredictable when it comes to these breakouts, they tend to make some overblown moves to the upside, but at some point, people will realize that they are all heavily overvalued and .com 2.0 stocks. So you can hold below 58 if you want, but personally I'll always be skeptical of that.
*NOT trading advice, please do your own analysis!*
These cloud stocks are pretty unpredictable when it comes to these breakouts, they tend to make some overblown moves to the upside, but at some point, people will realize that they are all heavily overvalued and .com 2.0 stocks. So you can hold below 58 if you want, but personally I'll always be skeptical of that.
*NOT trading advice, please do your own analysis!*
Stopped out. Could very well find support around 56.50-57 and take off, but it broke our stop loss. Got to stay disciplined. Going to keep an eye on this one still though. Could be a good entry around the 100ma. Going to see how it trades with the market the next few days. If the markets continue to sell off, but WK doesn't follow, could be a sign of strength.