I maintain my bearish sentiment despite the positive characteristic of late. Price below 30week, so no trade for me. Closing the gap however..
Nice to see it take the emas back. I'd be selling here if I were lucky enough to have picked the recent swing low.
Volume is meek and inline with general market. For me this means, in context, the general participation is luck luster and just a gentle stream of movement - not worth getting out of bed for as a trader - at least if you're dealing with significant size
Price is moving agnostic of general indexes. Given the short interest scope I'd say this means they maintain the balance of shares bought and sold = no significant indication to get long yet.
There is a large gap between averages and price is still weighed down by them. My intuition having looked at a few charts over the years suggests there is a good chunk of time that needs to facilitate the washing out of supply and the need of a displacement event to shock this action back into life. This would look like a lengthy consolidation over a few months generally. Consider it a landing period where energy is absorbed after a volatile descent. Cautious participants enter the stock slowly and replace disenfranchised longs etc.
A shift in business comes along and shakes things up violently seemingly 'out of nowhere' to noobs, however the sign is generally a decent green candle popping up and reclaiming important moving averages with some > relative vol. This is the ideal scenario at this point. The less desirable scenario (which is possible) is the business is unable to deliver and the market realizes this.
A worth while question is whether wbt can weather the coming months/years and where a cap raise would be prudent given the absence of income. Measure this against borrowing rates and the likelihood of adoption in the current demand for new tech. Pretty complicated for me so maybe wait for the chart to show some strength.
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