Commodities markets took a big hit today. The margin clerks will be busy tomorrow ! Here's a candidate should lumber prices stabilize. Weyerhaeuser has benefited from higher lumber prices as production has decline and demand skyrocketed. Worth watching. Targets, entry and a stop have been indicated. A quick trade as the over weekly chars show a long term...
WY classic fake out before earnings break out We need to consolidate after breaking all time high before we move higher. Yes timber prices are coming down but first they need to report all the earnings they had last quarter. we are not done with commodities pumping up - once gas goes up the timber goes up too.
I just draw 3 lines, in an uptrend and we are at the bottom of the range.
$WY is in an uptrend and we are looking to buy dips. It doesn't seem to be spending much time in the lower channel, so when it gets down near the bottom is the ideal opportunity. To help us time the dips, I am attempting to incorporate the Williams %R indicator. This is a new indicator for me, but it's not my first indicator, so hopefully I don't hurt myself...
$WY weekly looks bullish, can see $37 before pullback
The PEAD projected a neutral outlook for $WY after a negative under reaction after its earnings release placing the stock in Drift D If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
WY is 17% from all time high. Once we break through that we go to price discovery mode which means we go higher. My fried who works at a lumber yard says they have had a record year of lumber sales with more slated for this year. The green New Deal we will be using wood more this year than last to fix infrastructure. I see earnings rolling in and people will be...
- Recent history of strong earning beats, expecting continuation into Q4 - Lumber futures have surged over 155% since their lows on April 1st, Lumber has since pulled back sitting at .618 fib, looking for continuation to the upside. - DIY projects and improving housing market is providing a steady demand for wood - Strategic timberlands in the Pacific Northwest...
We'll see excellent highs this week. targeting 34 - 35 As always, not a recommendation :)
WY could see new new 52 week highs if current formation holds. The play would be invalidated below 28. Ingenuity Trading Model is an algorithm used in- Stock, Forex, Futures, and Crypto markets. The model is a Geometric Markov Model : Focuses on reversal and continuation wave structures In probability theory, a Markov model is a stochastic model used to predict...
Expecting a retrace back down to 29.32 and riding that trend line before pushing back to 34
Hey people, WEYERHAEUSER COMPANY is in a bearish movement, high volume of sales executed and in the before session. It is plausible that we will breakout the stabilization zone to move towards the next previous higher, which is half of it, only if the buyers are back to buy. Please LIKE & FOLLOW, thank you!!
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