WHR bear flag, setting for potential break down of 200 EMA
Whirpool sitting on its 200 EMA , below all key moving averages.
It found strong resistance at $156 (tripple top) and starting from there sold off aggressively then price retraced to moving averages in very controlled manner. On 27 of May selling in stock resumed and now we have few inside days to absorb this big, red candle near lows in front of support.
I put WHR on my short list.
Entry below $142, it could trigger more selling. Holding below for few days means that buyers and sellers accept new prices and this can attract more selling and covering.
Target could be at next support at $134, next swing low at $124.39
For active traders stop above $144.70-$145 where 8 EMA and swing high/potential resistance lies.
It found strong resistance at $156 (tripple top) and starting from there sold off aggressively then price retraced to moving averages in very controlled manner. On 27 of May selling in stock resumed and now we have few inside days to absorb this big, red candle near lows in front of support.
I put WHR on my short list.
Entry below $142, it could trigger more selling. Holding below for few days means that buyers and sellers accept new prices and this can attract more selling and covering.
Target could be at next support at $134, next swing low at $124.39
For active traders stop above $144.70-$145 where 8 EMA and swing high/potential resistance lies.
