if one can read a chart they often leave telltale smoke signals of what the actual insiders think of a stock positive or negative. Company presentations and updates are usually upbeat even when the insiders, that is directors and instos, are in fact selling. Anyone familiar with the gas energy giant Enron is a good case of reassuring company updates as the share price was in terminal decline. Had the public taken note of this divergence they could have saved their investment.
Anyway,,lets have a look at the WHC charts ..
Above daily chart the steeply entrenched downtrend very apparent, Septembers steep sell off Ive treated as an anomaly but may come into play if the sp breaks the channel support line.
The upward move last trading day was rejected at a horizontal resistance ( orange line) which stretches back to September so no surprise there
On 20th Dec the intraday low bounced off the Fibonacci -50% level (83¢ ->1104¢) which indicated the relevance of Fibonacci in determining support levels going forward
Weekly chart with fibonacci retrace levels marked in -50% = 593¢; -61.8% = 473¢; -78.6% = 301... numbers to watch if white support lines fail
quarterly chart above.... last 10 quarters or candles , show marked increase in candle wicks denoting trader indecision on g heighten volatility and price range. Usually this is a result of divergent market opinion..a polarisation.
The wick extremities are trending lower.
GLTA
(20min delay)