VWTR broke out on huge volume in June/July and I had it marked on my watchlist for a pullback. For the first time since the breakout, it is re-testing the 30 week moving average currently at 11.48. Set a low last week and this morning at 11.44 and is now reversing perfectly off the 30 week MA. Good long term long entry with a stop below the 30 week moving average or below the 200 day MA which sits about a buck lower. I'll be adding to a position here. If it breaks the 30 week MA I would still hold and see reaction at 200 day MA.
Comment:
Today would be the day, bounced off 200 day MA at 10.95 this morning. I would set a stop below today's low. If that breaks get out and reevaluate. If it holds today will be a great entry point
Comment:
if you were stopped out below 10.95 intraday, it never closed the day below 200 day and finally popped. If you are still in as long as the 200 day holds I still believe this is a good buying opportunity. Close out on a daily close below 200 day MA
Trade closed: stop reached