WAGE has broken down some key support area, and looking very weak. On the other side it has very poor financial ratios, also has insider selling. We think it has good downside potential
* Trade Criteria *
Date First Found- July 10, 2017
Pattern/Why- Key support breakdown short
Entry Target Criteria- Break of $63.23
Exit Target Criteria- $56.13
Wage met profit forecasts but the pattern is pretty nice cup with handle look to buy on break of handle or 2nd chance top of cup rim...how far can it go, well initial target would be to project bottom of cup upward to get a target....first has to clear the left cup rim
The stock had recent seen a free fall, but found some support at and around August last years low, after losing 50% in 53 days, the price bounced off from that support n regained 53% of the lost grounds in 46 days and gave back 20% of regained grounds which is a new higher low from May's low. Any time price recovery fails to print at least 62% of the major decline...