Over the next few posts, we plan on reviewing single and multi-bar reversal bar structures. In proper context these are among the most important and informative of all tape features. They often mark important turns in the prevailing trend or the completion of a trading range. More practically, they can be utilized to position trades and stops against. These...
Very relevant to the housing market is the price of wood. Here in a long term channel up trend with a mid line I can see an inverse head and shoulders, price in the upper half of the channel and a breakout above the 10 month moving average. Could the housing 'crash' be called too early?
Hey all, I think this is a good ETF to keep an eye on. This thing will most surely drop based on its chart, and I see no fundamental reasons why lumber stocks should rise. I am waiting for SPY to reach $389 to short this name; I perceive this is a very safe short.
Hey guys,
I've been following this ETF since lumber prices have been falling from their sky-high prices. Just now, it looks ready for a markdown phase that could get pretty ugly. Though it is currently well below, if it manages to get to around $83-84 dollars, I think that shorting it there would be an incredible opportunity with minimal risk and solid reward...
lumber ETF Have you seen the prices of wood lately, last year did some remodeling, 4x8 CDX plywood about 15$ dollars per sheet, today here in Timber Central USA OREGON that same piece if you can find it $62. Inflation is here and production is down but prices are way way up. Go see why? Check builders, paper products, etc.
Also just found WEF a $2 Canada...
As many of you know the price of real estate has been rising at an unprecedented rate. Along with this is also the rising lumber rates.
- If you are thinking about buying a house; right now would NOT be an ideal time.
- You are paying an inflated price for a home while also paying for the additional lumber costs, which are up 146% since march! Now many people...
The bull run will continue with a price target of around $150. The yellow trend line is resistance. The orange trend line is support. I apologize for the scale, I did this on my phone.
This is one of the sector which has been going up pretty fast since the March low. It perfectly back tested the trend line as well as previous all time high from June 2018 perfectly and moving lower. Risk to reward seems pretty attractive.
The falling wedge is about to break out.
The divergence in the dailies is quite clear both MACD and Histogram which Alexander Elder says is powerful.
The weeklies have a divergence in the H but not in the MACD itself.
So, it is a tradable long.
Going long at US open tonight 11 Sep 2019 with a stop below the gap at 55.60 area - to be specific atop at 55..
The 10...
WOOD is now ready to be shorted. The run is over extended, and OBV has already broken down. Pullback expected back to at least 72 level in the long run.
