WESCO International ( NYSE:WCC ), a leading provider of electrical, industrial, and communications MRO and OEM products, has made waves in the market with its recent announcement of the sale of its Wesco Integrated Supply business to Vallen Distribution, Inc. for a hefty $350 million. This strategic move signals WESCO's commitment to optimizing its portfolio,...
Similar to one of my previous posts on TITN
However this breakout formation is a little more rounded, leaving room for downsides before a move upwards which I have tried to show with the green bars pattern
Both TITN and WCC broke out of a red downtrend line
Notes:
* Great earnings in the recent quarters
* Strong up trend in the long run
* Price has been increasing along with volume
* Breaking out of a ~7 month base with higher than average volume
* Also breaking out with a pocket pivot
Technicals:
Ticker: $WCC
Sector: Industrials - Industrial Distribution
Relative Strength vs. Sector: 86.62
Relative Strength vs....
$WCC is an example of how I would play a trendline break.
Needs to break the down trend and form a cheat after that.
Trigger is the high of the cheat area.
$WCC looks good
Entry level $55.86 = Target price $58.73 = Stop loss$55.22
Bullish golden cross.
Break from downtrend.
Rising RSI and Stochastic.
P/E ratio 10.70
Company profile
WESCO International, Inc. is a holding company, which engages in the provision of electrical, industrial, and communications maintenance, repair & operating and original equipment manufacturers products....
Areas of resistance to watch $55.57-$58.82.
Reversal on all indicators.
Golden cross buy signal.
P/E ratio 10
WESCO International, Inc. is a holding company, which engages in the provision of electrical, industrial, and communications maintenance, repair & operating and original equipment manufacturers products. It also offers construction materials, and supply...
