gingerheadtrader

Wayfair's first day above water $W

NYSE:W   Wayfair Inc.
Looks like Wayfair had its first day with its head above water for the first time in 2 months. After loosing around 50% of its value from the highs in Oct, things finally seem to be looking up. I was looking, waiting, and watching for the price to break the 8MA, we've been stuck under that line for a month. We broke above that line last Friday, which was a low volume, lackluster, half-day for most other tickers. Then today, the first day with real traders back at their desks in a while, we broke above 2 key levels; the 13MA and the downward channel line (line in blue on my chart). I'm looking for one more bullish candle with a close above yesterday's then I think I'll be sold that this is a reversal. Exciting stuff!!!

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