$WELL:TSX
It looks like WELL has possibly finished the current - local - downtrend that it had been going through which saw it come from a high of $8.86 to a wick as low as $7.12.
There are a few key points of resistance (dashed - red) that it will need to break through on its way back up to its main uptrend line (purple) with the heaviest being in the $7.73-7.76 area on the chart.
This could be played as one longterm trade with a single entry and exit, or broken up into multiple smaller trades to play the local action in-between resistance and support along the way. Let’s see how things go after we get past the first key area of resistance at $7.53.
* This Content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice.
It looks like WELL has possibly finished the current - local - downtrend that it had been going through which saw it come from a high of $8.86 to a wick as low as $7.12.
There are a few key points of resistance (dashed - red) that it will need to break through on its way back up to its main uptrend line (purple) with the heaviest being in the $7.73-7.76 area on the chart.
This could be played as one longterm trade with a single entry and exit, or broken up into multiple smaller trades to play the local action in-between resistance and support along the way. Let’s see how things go after we get past the first key area of resistance at $7.53.
* This Content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice.
Trade active:
So far things are going in the right direction, although, not as fast as planned. The shares were picked up at $7.53 on the way through the target zone.