Research Donkey requested I chart WAB. Research Donkey consistently puts out some great analysts reports here on IBC so I’m more than happy to offer this up. Here’s a look at WAB from my perspective:
First the 3 year – we have a well defined channel, except for what I will refer to as the “October Anomaly” – which broke a lot of charts. I took the three year low and highs and using the Andrews pitchfork, created another channel splitting the main channel very well. We see that after a drop in July – WAB traded the lower half of this longer trend view. I also like the rising RSI.
This second chart is a six month view that gives better detail. This time I included the “October Anomaly” in the Andrews fork and it also correlated the top of this fork to the center trend line of the 3 year. The price I used were a pivot hit in August, the Oct. Low (which coincided with S1 very well and the Dec. high which came in just below R1.
To me this is either a buy above 73, or a short off weakness at that upper trend line. If you’re a long term holder, I think you’re in good shape