WSM just had earnings
Open position at $57.50
Stop loss at $55.30
Take profit at $61.24
Why this play?
Williams-Sonoma also raising its already nice dividend by 11.6%. Doing another $500 million share buyback
$WSM Williams-Sonoma - Death cross on the daily chart earlier this month. After a post-Xmas bounce price has been rejected at down trend line resistance. Expecting continued declines into Q1 2019. See chart for two possible medium term targets.
Adding to the bearish outlook, we saw some unusual options activity late last week with 16k Jan'19 47.50 strike (OTM)...
The furniture retailers made a sharp Fast Ball XRV move lower Tuesday. We will look for a short-side extension in WSM on sector weakness on Wednesday.
NYSE:WSM
An intraday (daily time frame) BackTested Analysis.
Price is likely to move sort, into the trending channel.
It would be a good opportunity to enter in the market if price moves between 52.46 to 53.11 during first moments after the opening bell.
1) Three tops of ROC Oscillator diverge pointing sort movement.
NOTE: ENTRY RANGE AREA ABOVE THE ENTRY POINT, IS...
Remember #DIS when it fell all the way from 116 to 89 last year. This is doing a sorta similar behavior. Chart above showing the various resistance lines. Being a slow mover, don't expect surges (unless something significant happens).
We have a downswing in an uptrend. Our fast rsi went to the oversold area.
My stop is 5% below our entry point and the target is the high of the last five days.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
WSM
