Bearish potential detected for WHC

Mar 16

Entry conditions:
(i) lower share price for WHC along with swing up of the DMI indicators and swing down of the RSI indicator, and
(ii) observation of market reaction at the support level at $5.55.

Stop loss for the trade would be, dependent of risk tolerance:
(i) above the resistance level from the open of 21st February (i.e.: above $5.80),
(ii) above the resistance level from the open of 13th January (i.e.: above $5.91), or
(iii) above the resistance level from the open of 30th December (i.e.: above $6.00).

Mar 20

Order cancelled

UPDATE (week ending 21-Feb): Trade abandoned since observation of market reaction at the support level of $5.55 showed that the RSI swung upwards (rather than downwards) when the share price tested the support level shown in the chart above. Since the share price ascended above the resistance level of $5.80, there's no point in tracking this potential trade any further - remove from watchlist.