There are a number of things I like about this short setup. Risk/reward is exceptional, trend shifted down over the past 12 months slowly and steadily, and now we are retesting that before continuation.
ASX:WBT Possible Scenario: LONG Evidence: Unusual option activity, price action This is my idea and could be wrong 100%
WBT looks like its at a buy zone at $6.11. Theres high resistance around $6 and possible bounce up(or Down). It seems low risk investment. I haven't done enough research to be in this stock long but the holidays are coming up and thats good for food related companies. I'm looking set a stop loss at $5.85 with a target price of $7.50.
WBT highly rated, profitable (before covid) Small-Cap value play. With a strong breakout above 7ish... where would the resistance be? 10,12,14 ??? Pick a number? What an Odd-looking chart ..... but I will take it...
I think WBT may gap up tomorrow. Been bottoming out and beat estimates along with some other actually good debt/equity ratios etc. Not a bad company IMO.
$WBT Welbilt - Oversold at $11.50 support. Two possible medium term price targets on chart. Note: Informational analysis, not investment advice.