Thursday, June 13, 2013

Thursday evening


Thursday afternoon

WNR Daily Chart (10:54 EDT)
(Click to make bigger)

So far the 200 day is doing a good job of holding it up but the slope has flattened and without a strong move up it will begin to droop.  The stochastic reads "oversold" and it could print a buy signal as early as tonight. 

You may also notice a Head & Shoulders pattern (Feb - Apr) which suggests a low of approximately 29.60.  (It hit 28.85 on 4/15.)  Today's price could be low enough to satisfy technical traders so you may want to grab a little into the close if it stays green and buy with both hands if it clears the 50 day sma.

Thursday morning