Wärtsilä is a Finnish corporation which manufactures and services power sources and other equipment in the marine and energy markets. The core products of Wärtsilä include technologies for the energy sector, including gas, multi-fuel, liquid fuel, biofuel power plants, energy storage systems and technologies for the marine sector, including cruise ships, ferries, fishing vessels, merchant ships, navy ships, special vessels, tugs, yachts, and offshore vessels. Ship design capabilities include ferries, tugs, and vessels for the fishing, merchant, offshore and special segments. Services offerings include online services, underwater services, turbocharger services, and also services for the marine, energy, and oil and gas markets. At the end of June 2018, the company employed more than 19,000 workers.
Keep an eye on Wärtsilä because technically it has reached to the possible bounce area. It is a bit mixed because fundamentally it is not the best - operating profit decrease, some bad coincidences and etc.
Let's see, how and if they would recover from it. If they do, then technically it is a perfect platform to make a bounce upwards because as said, technically this levels is pretty strong: 1) Monthly EMA200 should act as a support 2) Inside the marked area are 4 yearly highs, which now should act as support levels 3) 2x Fibonacci retracement 62% 4) The price has fallen from the all-time high to the golden pocket 47%-53%. Pretty often stocks make some kind of bounces just after they have reached inside the mentioned pocket. All-time high ~20, current price ~10 5) The round number 10.000 and this is the key level.
10.00 is the key level because the plan starts to work right after we have seen a Weekly candle close or a Monthly candle close above of it!
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Regards, Vaido
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December candle close gave us almost a perfect setup for further mid-term growth!