jangseohee

Silence the squeak

NASDAQ:WDFC   WD-40 Company
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WD-40, the household name with a product that silence the squeaking of a door hinges is indeed a fundamentally sound stock. From the bottom of 25 since 2009, it has been a class of its own following the green uptrend channel .

I understand that seeing my post based on channel might bore you alot .

But IMHO, channel is the backbone and dictate the movement of price be it long term or short term, while MAs are the muscles to assist price to flex. Hence, within a channel, price can accelerate to channel top or decelerate to channel bottom excluding the break out part.

As early as Dec 2013, the stock has shown signs of tiredness which subsequently translate it into a distorted head & shoulder pattern towards the channel bottom.

I am monitoring the price moving towards the channel bottom where bulls & bears will square it out.
If there is a strong support, the price might find its way up until the orange channel top around 75
If case it broke down, then look for retest of the support turned resistance for short opportunity


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