Hi all,
my previous chart on Vestas Wind Systems didn't quite go to plan. The stock price has just been ladderring down since it's 8th of January ATHs @1605 DKK, and I've gladly been picking up more shares on the cyclical troughs.
Now VWS is really looking for a turnaround. Some positives:
- We are finally sitting at a very strong support range @~1160 DKK,...
Its hard to to realize whats the future will bring for Vestas. For sure it will eventually hit 2000DKK but the question is when. Its not impossible to see it fall to 1000DKK due to high correction. before moving higher up. This setup is based on the Elliot waves that im not so into. and it have started correction up. This prediction is a mix of optimitic and...
Vestas Wind Systems (VWS) has been a top performer in my long-term portfolio. I have noticed that the stock trades sharply negative when it reaches overbought levels (RSI basis), dropping for a few days thereafter until the RSI recharges / normalizes for the next leg up.
In the previous instances this has occurred, the stock took about 20 - 30 days to recover...
Bloomberg:
Biden has outlined plans to spend $2 trillion on clean energy as part of his economic recovery plan.
Europe has a global advantage in so-called green tech and the region’s solar and wind energy leaders would get a major boost from a “blue wave” of Democratic victories.
Technically:
Measured Move Up and the target as mentioned.
RSI overbought - need to retracement
CMF +0,50 showing the buyingpresure, but turning down
MACD Bullish
Long term uptrend based on MA200.
I think this is long term bullish, but first we need a retracement down to 1035-1065.
I think we will se a C wave correction down from around here, we are pushing on the old bottom trendline, which now is the upper loft it seems.
Stay away for now
Bullish bat at weekly up sloping lower median line and a bigger monthly median line.
Impressive monthly bear butterfly succes!
Daily view with some minor support lines:
