As we can see on the chart WOR has been uptrending and currently the price is respecting the upsloping support.
We expect the price continue to be in an uptrend, so our strategy is entering a long position close to the upsloping support.
Target would be at the upsloping resistance (upper boundary of the rising wedge)
A W Pattern that has yet to experience the bullish phase. (1) Angled slightly to the left. Weekly timeframe. Using the bars pattern to plot the next move of the W.
Reverse head and shoulders, symmetrical triangle which is also being capped by the supply zone with upper limits around 47.3. Once the supply is cleared, it can easily go back to around 50.
How to trade it:
1- Going long upon confirmation which could only be profitable if you can reasonable commission.
2- Call debit spread 45/50 with max profit of $323 and max...
I have recently published a series of bullish articles about-XME.
WOR-is one of the components of-XME. The strength of this chart speaks for itself -
It is one of the metals stocks which is contributing to the strength in-XME.
XME-is the-SPDR S&P-Metals and Mining ETF-which offers broad exposure to industrial-and precious metals and mining, with a strong emphasis...
WOR is America's largest independent processor of flat-rolled steel. The company takes steel from steel producers and processes it for customers in a variety of industries including automotive, lawn and garden, construction, hardware, office furniture, electrical control, leisure and recreation, appliance, agriculture and HVAC. Im not a fundamentalist so im unsure...
