Blog Post: Day 3 of $QQQ short term down-trend; 102 new US yearly highs and 483 lows, 3 ATHs; $WFRD at ATH and showing strength after recent GLB, see daily chart

Indicators

  • GMI: 2/6
  • GMI-2: 2/8
  • T2108: 35%

One of the only stocks hitting repeated ATHs is WFRD. It has great fundamentals, going from no earnings in 2021 to an estimated +.22 in 2022 and 3.00 in 2023. It is also in the oil and gas drilling support business. It has a comp rating=96 and RS=98, according to MarketSmith. WFRD has emerged from a multi-week consolidation after its GLB last October. Look at the recent above average volume and the black dot signals (bouncing from an oversold daily 10.1 stochastic). Someone is buying it. Remember, though, break-outs tend to fail in this market down-trend.

 

 

The post Blog Post: Day 3 of $QQQ short term down-trend; 102 new US yearly highs and 483 lows, 3 ATHs; $WFRD at ATH and showing strength after recent GLB, see daily chart first appeared on Wishing Wealth Blog.