Thursday, June 13, 2013
Thursday afternoon
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| 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.
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