WMS finally broke... but can it hold?
I last discussed this July 1st, 2021. I mentioned how I thought this would come back and retest the $114 area.
Since then it's given multiple buying opportunities around $114 and now it has finally broken out.
Question now is, can it hold?
WMS has broken out of the resistance zone of $117.90 with relatively more volume but I still think it's not enough.
Trade idea:
* WMS may come back to retest the $117.90 area and consolidate there for a bit before moving higher.
* Look for buying opportunities around the $117.90 area.
Notes:
* In general WMS has been performing really well and is in a general up trend.
* With a payout ratio of 13.70% WMS makes sure it has more than enough capital for further growth and increase its dividends over time.
This is a GREAT long term buy and hold for your portfolio!
Since then it's given multiple buying opportunities around $114 and now it has finally broken out.
Question now is, can it hold?
WMS has broken out of the resistance zone of $117.90 with relatively more volume but I still think it's not enough.
Trade idea:
* WMS may come back to retest the $117.90 area and consolidate there for a bit before moving higher.
* Look for buying opportunities around the $117.90 area.
Notes:
* In general WMS has been performing really well and is in a general up trend.
* With a payout ratio of 13.70% WMS makes sure it has more than enough capital for further growth and increase its dividends over time.
This is a GREAT long term buy and hold for your portfolio!
Comment:
As expected WMS is consolidating after the break and has given multiple buying opportunities around the $117 to $119 area.
