Jrussell86

WPCS breakout on watch

Long
NASDAQ:WPCS   None
Inverse head and shoulders has formed since 14DEC on hourly, measuring rule implies 25.5% increase from breakout; however this is NOT a decisive breakout due to lack of volume and price not closing more than 2-3% of neckline. Keep close eye on pre-market. inital PT = 1.28, if it breaks decisively over 200 DMA then we could be in store for a much larger move ESPECIALY with MACD crossing positively across 0 line meaning that this could be last bottom before golden cross. Note that this is an in and OUT play only not LT.
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