Commodities markets took a big hit today.
The margin clerks will be busy tomorrow !
Here's a candidate should lumber prices stabilize.
Weyerhaeuser has benefited from higher lumber prices as production has decline and demand skyrocketed.
Worth watching. Targets, entry and a stop have been indicated.
A quick trade as the over weekly chars show a long term Bearish Harmonic Shark Pattern
Risk/Reward is 1.5 to 1.
As always do your own due diligence.
S.
The margin clerks will be busy tomorrow !
Here's a candidate should lumber prices stabilize.
Weyerhaeuser has benefited from higher lumber prices as production has decline and demand skyrocketed.
Worth watching. Targets, entry and a stop have been indicated.
A quick trade as the over weekly chars show a long term Bearish Harmonic Shark Pattern
Risk/Reward is 1.5 to 1.
As always do your own due diligence.
S.
Comment:
Here is the long term weekly view
S,
Comment:
Nothing actionable yet...idea closed as we went through original stop