WWAV breaks and retests $40

24 มี.ค. 2015

WWAV doesn't have much data but it has been trending up since 2013.

There was a long period of consolidation from September 2014 to February 2015. Although technically the consolidation didn't start until November the November high was only marginally higher - and price pretty much traded within the September pivot high and October pivot low range until the February breakout.

With the $40 round number ahead price may well have stalled before reaching $40, but in fact cleared it quickly - then came back to retest (with a slightly lopsided double bottom chart formation). Yesterday price broke out the more recent pivot high - and on higher volume. However, the breakout was minimal and the bar not as bullish as I would like to see.

WWAV has been trending well since 2013 and there is no resistance until possibly the $50 half figure. Volume is good, too. But, as the breakout bar wasn't overly convincing, I would wait for a clearer indication that the trend was continuing before buying this stock.