Bullish potential detected for WPR

25 apr

Entry conditions:
(i) higher share price for WPR along with swing up of indicators such as DMI/RSI.

Stop loss for the trade would be:
(i) a close below the 200 day moving average (currently $2.49), or
(ii) a close below the 50 day moving average (currently $2.42), or
(ii) below the support level from the open of 2nd January (i.e.: below $2.34), depending on risk tolerance.

25 apr

Trade attivo

UPDATE (week ending 24-Apr): Detected initially during the scans at the end of the week ending 17-Apr, this trade activated on Wednesday 23rd April, but the share price gapped up quickly at market open, which always induces caution in mind at the first instance for new trades. Rightly so, in this case, as can be seen in the initial price action that day with the red spinning top candle, however the next day's action proved more stabilising, which allowed a more relaxed trade entry after further respect of the 200 day MA was proven in the share price (the full basis of the trade overall - notice how the share price has fully respected the 200 day MA to the downside for the entirety of December before closing above the 200 day MA each day since 16th April).

7 giorni fa

Nota

UPDATE (week ending 02-May): A good trading week sees the share price of WPR rise to allow raising of the stop to a protective stop on the basis of a prior resistance area of $2.52 from the open of 20th November 2024, which aligns well with the daily chart (beneath the recent swing low formed on 30th April). This trade is now moved to a 'further bullish potential' trade.

19 ore fa

Nota

UPDATE (week ending 09-May): Another good trading week for WPR saw further share price rises. Depending on risk tolerance, the charts suggest to consider raising the stop to a point beneath prior resistance areas of note, keeping in mind that only the first has been tested from the upside thus far - (i) $2.57 from the open of 26th November, and (ii) $2.61 from the open of 23rd October 2024.