I've been a long-term bull on NASDAQ:WIRE for years, and it continues to be one of my largest positions. Fundamentally, there's nothing that changed my mind about the company. I've listed some of the reasons I like the company in this mind , and they're as valid now as they were last October.
That said, I am thinking about reducing my position for a couple of...
This is not a trade. I'm just flagging the fact that there's a symmetric triangle in play for WIRE.
I've been long the stock for well over a year because I like its fundamentals. Given these fundamentals I'd be surprised to see this triangle to break to the downside, but until it breaks in either direction there's no setup to go long or short. This might just be...
Fundamentals:
The fundamentals of WIRE are just beautiful to look at: P/E = 5, P/S = 1.1 and P/B = 1.84
The earnings of the company have doubled since the start of 2021 (average annual growth for the past 5 years has been at 56% ); the earnings are expected to come down because of the recession fears but these expectations are already accounted for in...
I don't normally play high and tight flags in a general bear market, but industrials have been strong since last year, and this company just is kicking butt. Encore wire scores an A) in cash flow, growth, price momentum, and profit health, and a B) in relative value. According to Finbox models, this stock has an upside of 37.3%. And zero debt. Wire and cable....
SPY was down 1.6% on Friday. QQQ was down 2.6% .... WIRE was up 1%. It managed to find buyers in a climate of selling demonstrating some unique power. Note that this was done on some abnormally high volume, perhaps suggestive of institutional accumulation.
My only interest is if it moves north as this has some odd power in an otherwise choppy environment.
The stock is in a long uptrend and in my opinion has a good chance of breaking out from this cup and handle pattern. That's only my opinion and I'm not advising anyone to try it. Tell me what you think in the comments
Half size position taken on the 11/10 breakout with a stop below the day's low.
Closed early as the breakout came back in on overall market weakness. Did not want it to gap against me the following day. Looking to potentially rebuy.
Company is showing absolutely elite levels of growth currently & should be boosted by the infrastructure bill.
I wanted to make sure the Daily, 4 hour, and the 1 hour timeframe matched. The RSI needs to be oversold and the Mac D needs to be green on all time frames.
This ticker has solid financials but took a covid hit in 2019 and seems to be improving within the last 3 to 4 quarters!
I always want to make sue that my hard earned money is being invested into companies...
Encore Wire Corporation is a low-cost manufacturer of copper electrical building wire and cable. The Company is a significant supplier ofboth residential wire for interior electrical wiring in homes, apartments and manufactured housing, as well as building wire for electrical distribution in commercial and industrial buildings.
Based on the study of the previous...
WIRE is looking like it wants to continue the uptrend. Very nice clean break of a counter trend line in a rising wedge. My stop will be a close outside of the blue ascending trend line. A move to 68 wouldn't be out of the question so I will be watching price action at the blue zone to see if it should be held or if it should be flipped for a quick 4% gain.
Thanks...
