2waytrading
Long

Bullish Engulfing (Buy Signal)

NYSE:WAGE   WAGEWORKS, INC.
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The stock had recent seen a free fall, but found some support at and around August last years low, after losing 50% in 53 days, the price bounced off from that support n regained 53% of the lost grounds in 46 days and gave back 20% of regained grounds which is a new higher low from May's low. Any time price recovery fails to print at least 62% of the major decline expect a possible continuation of the downward momentum, but this time, we give a shot the new bullish engulfing pattern, and it has a possible rally back to 50% retracement of the major decline of this year. Small long position. If u like it follow with us.
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