Steve666

Weyerhaeuser (WY) . Worth watching

Steve666 Pro+ Updated   
NYSE:WY   Weyerhaeuser Company
Commodities markets took a big hit today.

The margin clerks will be busy tomorrow !

Here's a candidate should lumber prices stabilize.

Weyerhaeuser has benefited from higher lumber prices as production has decline and demand skyrocketed.

Worth watching. Targets, entry and a stop have been indicated.

A quick trade as the over weekly chars show a long term Bearish Harmonic Shark Pattern

Risk/Reward is 1.5 to 1.

As always do your own due diligence.

S.






Comment: Here is the long term weekly view
S,
Comment: Nothing actionable yet...idea closed as we went through original stop

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