Bought a few Put Options for West Fraser Timber Co.NYSE:WFG Shorting Wood Products. (Note for self).
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About West Fraser Timber Co. Ltd
Sector
Non-Energy Minerals
Industry
Forest Products
CEO
Raymond W. Ferris
Website
westfraser.com
Headquarters
Vancouver
Employees
11K
Founded
1955
ISIN
CA9528451052
West Fraser Timber Co. Ltd. engages in the production of lumber and engineered wood products. It operates through the following business segments: Lumber, North America Engineered Wood Products (NA EWP), Pulp and Paper, Europe Engineered Wood Products (Europe EWP), and Corporate and Other. The Lumber segment refers to the manufacturing, selling, marketing, and distributing lumber. The NA EWP segment includes North American OSB, plywood, MDF, and LVL operations. The Pulp and Paper segment is involved in the production of pulp and paper mill. The Europe EWP segment operates the U.K. and Belgium OSB, MDF, and particleboard. The Corporate and Other segment relates to other wood products and related activities. The company was founded by Henry Holman Jr Ketcham, Samuel Kendall Ketcham, and William Peters Ketcham on January 28, 1955 and is headquartered in Vancouver, Canada.
Target 130....... Good Up Trend.. Technical and fundamental good Breakout in 88.........Target 130....... Good Up Trend.. Technical and fundamental good.........
West Fraser Timber WFGThe reward to risk here to first PT is excellent at 3.98. On the weekly, this is looking quite good for a short.
Target 124.5, ( 1 to 5 months )Good Technical and Fundamental , Buy for long, Target 124.5 , Duration 1 to 5 months.
$WFG 8 Months Base Adding $WFG to my secondary watchlist. big 8 months base (zoom out) with nice VCP pattern.
Building a pivot on the right side now.
*vol drying up in the pivot
*My base detection indicator is on
*OBV making new high before price (NHBP) = nice volume pattern
WFG share price needs to correct to match lumber price crashKey points:
1. Lumber is down 68%, WFG is only down 25%. WFG rallied with lumber. Lumber will likely stabilize at or below the current price.
2. Momentum channel has been broken
3. MACD has crossed below zero and the signal line has crossed the MACD line
4. Chart colorization is a reflection of MA
WFG - Stan Weinstien early stage two Stan Weinstein wrote a classic investment book in the 1980's
Basically, it's based on recognising the rotation in the market between stage 1,2 3 and 4 - instead of inserting loads of waffle about it check out this link - the7circles.uk
So going by Stan’s rules in relation to this stock I get:
1. Ge
Still plenty of upside in Canadian lumber stocks.I recommended West Fraser Timer (WFT on TSX) some time ago. In November the company announced it would buy another lumber company, Norbord.
Nov 19, 2020 | Posted in Corporate News, News
West Fraser to Acquire Norbord, Creating a Diversified Global Wood Products Leader
– Complementary OSB business
West Fraser Timber (WFT) this is a nice long term for a dividend portfolio
Timber prices high
stimulus in the USA should see spending going towards home improvement
See all ideas
This info isn't a recommendation for what you should personally do, so please don't take the data as investment advice. As with any trade, always look first, then leap. Read more in the Terms of Use.
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