The recent bushfire incident in Australia is a tragic and a setback for humanity. God bless the country and the innocent people who are where they are now because of this situation.
Businesses too are suffering especially those in the timber, packaging, paper, furniture,etc industries where wood resources (supplies) are now very much compromised.
If this...
The company is in the Industrial Goods | Lumber, Wood Production industry
The stock main trend currently consolidating and a big downward trend.
break of the 25 price support line will confirm the stock direction continuing down
Senario: entrance at 24.9, first traget at 24.05 at 50% trade.
further more, we can see global slowdown at wood shipments wich alart...
WY, last closed at 33.55$, is offering a good upside potential:
1) Positive reversal in place at L1 & L2 levels indicating a hasty market to go up
2) Prices pulled back to support level at 33$ and it held above it
3) First target at 34.20$, if broken 35$
4) Markets must not close below the 33$ level for 2 consecutive days in order to stay in the position
Per POTUS Trump- Canadian timber need to be sanctioned related to price manipulation. So, lets look at the largest U.S.A. timber public stock company WY & what could happen today/Friday.
*I believe that you could easily buy a CALL option that expires weekly (next Thursday 5/4) and be ITM. From chart, price action is hitting a hard support of $34.61 now on BB...
