WBD trading in the golden pocket between $13.46 and $14.68 as well as the .618 trend based fib at $14.28. Bearish momentum is decreasing on the Weekly TF as well as an imminent bullish cross on the MACD. Earnings coming up. Should price continue to make new yearly lows, $9 is next. Undervalued here imo.
Comment
⋅
Being a bit careful here as WBD is tagging 1.618 fib extension. Overextended with earnings coming up. Will accumulate more shares back in the grey area
Comment
⋅
With SPX looking to temporary reverse back to ~4,000 imo, WBD will probably drop back into the accumulation area especially after that abysmal earnings report. A lot of shorts having fun, but regardless of Debt > MC, Price to Free Cash Flow is nearing a new ATL at 4.67.
Comment
⋅
Scooped up some more shares at $14.8
Comment
⋅
I probably should have paid attention to that massive shooting star on the weekly TF! Still not a bad buy here imo. I'm not too concerned with the financial FUD from the bears
Comment
⋅
So Burry completely cashes out of WBD. This is where FA contradicts with TA. If it wasn't for 1) star on weekly TF 2) S&P shitting the bed, I'd happily double down. Against my better judgement, I'm holding on here.
I bought some shares at 13$, warner bros owns a lot of copyrights. When they start making content like Amazon, netflix and whatnot, they will be one of the biggest streaming service. I think it's an easy 10x from here down the line.
CrashWhen
⋅
@cicatrace, Agreed, a lot of people are letting their political beliefs get in their way of analyzing WBD. A mega bounce is coming sooner or later :)
DaytimeTinkerer
⋅
what your indicators didn't tell you is there was a pump and dump on this shit stock. this is a ranging stock and the pump was easy to detect. research on the company will tell you they are still shuffling trying to become more profitable.
CrashWhen
⋅
@DaytimeTinkerer, Hindsight is 20/20. It's easy being a commenter with 0 charts.