NLZ
Sep 26, 8:56 AM
$WRD $WRD Friday’s close around
$5.53 broke the rising support line. The push toward
$6 failed, and RSI has slipped back below 50. That is a setback for the near term bullish case. Consolidated volume was about 3.7 million shares.
I still believe a bear flag is too early to call. Price has broken a drawn support line, but it has not broken the
$5.50 area decisively or the June low near
$5.18. Those are the levels that would make a deeper decline possible.
Sellers won Friday, and it now needs to reclaim roughly
$5.75 to
$5.90. If WRD cannot do that and then it loses
$5.50 and
$5.18. It has done neither yet, so for now it’s just a continuation of several months of sideways trading. I maintain a long term extremely bullish view, which just needs a solid trigger to rerate. We know it’s coming.
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