WRB is a strong/bullish fundamental stock and therefore would be traded only in a long position.
WRB daily - is in a nice and big symmetrical triangle after leg up which is very bullish. Volume is lower which indicates there is no seller at the moment and the price consolidates at that level which is also bullish. Price is moving closer and closer to the end of the symmetrical triangle which will move stock very strongly.
RSI is neutral.
MACD histogram is ticking up, while the MACD line started to separate from the signal line which could indicate a strong bull move.
Overall: creating the symmetrical triangle after leg up is a bullish pattern especially if prices consolidate on smaller volumes like it is an example on this stock. Break above and daily close or strong move on high volume above blue upper dotted line would trigger a long position with stop loss below the green line or 20 days MA. WRB is a bullish fundamental stock therefore would be traded only on the long side. Break down below symmetrical triangle would NOT trigger short trade due to the fundament.
WRB daily - is in a nice and big symmetrical triangle after leg up which is very bullish. Volume is lower which indicates there is no seller at the moment and the price consolidates at that level which is also bullish. Price is moving closer and closer to the end of the symmetrical triangle which will move stock very strongly.
RSI is neutral.
MACD histogram is ticking up, while the MACD line started to separate from the signal line which could indicate a strong bull move.
Overall: creating the symmetrical triangle after leg up is a bullish pattern especially if prices consolidate on smaller volumes like it is an example on this stock. Break above and daily close or strong move on high volume above blue upper dotted line would trigger a long position with stop loss below the green line or 20 days MA. WRB is a bullish fundamental stock therefore would be traded only on the long side. Break down below symmetrical triangle would NOT trigger short trade due to the fundament.
Consistency is the key of success....
