The stock popped up on my radar a few days ago, and I love what I see. The divergences sync up with the pattern in the most textbook fashion. We see both bullish and hidden bullish divergence across all time frames. Will be interested to see what fundamentals back up any ensuing move to the upside, but its worth noting that this last move was pushed likely by the 50% beat on Q3 earnings released last November. It looks like they are behind on the current release, so will see what it holds.
Comment:
Chart is in log, but I don't really have an upside target and all these seem mighty rich. Looking mainly at structure and strength.
Comment:
This is what I call: "playing ball." Into the box, and then out at a 10% clip, while holding bullish divergence on yet another low ON THE DAILY CHART.
Comment:
Can count a 5 wave move off the bottom, today, and a bullish (B) wave, and a wave (2)...if so, this is what tomorrow, next couple of days COULD bring.
Comment:
Welp, we got precisely that^^within an hour or two of the chart, above. But, actually, I would now like to see something like this, with one more high on negative divergence to complete Micro ((1)), then we can track the correction.
Comment:
Sometimes, it happens just the way we draw it up. Added retracement fibs, but expect we might not get very deep.
Comment:
Little update...wanted to share that we appear to be forming hidden bullish divergence on the 1hr chart, while price remains elevated over its last low ON LESS STRENGTH, which in my mind means people are holding and not selling, at the very least. Add buyers to the mix, and that is how rips happen...high demand with little supply. Keep in mind, this is a company who's goal is to make policing safer and provide tools to protect both police and ordinary citizens in the case that force must be used, like with riots and such. If anyone is trading the stock, I would encourage you to go read the open letter the new CEO wrote to shareholders addressing most any question you might have about WRAP. I am not a fundamentals guy, at all, but where I do consider fundamentals is when it comes to velocity and speed, and the sort of combination of world events, company publicity, recent price action, and otherwise anticipation about the future has me thinking this guy could move on up, post haste. Also, looked like right after hours we saw a dip down to 1.65, which suggests to me the bigs are buying. Will see, soon enough. Best to all, Cuz.