I thought I would share some charting for those interested... normally I would do a 12 month chart, but my program is glitching today for some reason, so 6 month chart will have to do...
I'm a big fan of FA and TA coinciding, IMO WFL has some strong FA in play... there is a lot going on here behind the scenes... I also think the massive accumulation games indicate future interest due to the recent announcements over the last few months ... yes we had a speeding ticket, typical ASX... but as the company said, there is nothing to there knowledge that hasn't already been announced...
In the announcement on the 11/6 there was some stronger indications regarding the future:
FORWARD-LOOKING STATEMENTS This announcement contains certain “forward-looking statements” concerning Wellfully. Where Wellfully expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis.
Wellfully’s CEO Paul Peros highlights the launch as an important milestone, bringing our innovation closer to consumers in important new markets with a progressive high-end partner such as BORK. “Launching with one of the most reputable partners in the Russian and CIS markets is a major step forward for Wellfully’s expansion and commitment to bringing sustainable, yet smart, science-based products to the market. BORK’s unique customer focus and progressive approach to retail will be vital in connecting our technology with high-end consumers in the market.” This last part of the statement is the clue for me.. high end consumers...
IMO this partnership is about to crank up... watch the revenue boost...
Little exciting is this stock... IMO this is about to have a serious re-rate, low market cap... not alot of shares on issue... easy stock for major breakouts...
any way here is some TA and charting for those interested...
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Rally Within Longer Term Bearish Trend
WFL is showing strength within a longer-term bearish trend. Its MACD is above the signal line and shares are presently 0.1% above the 200-day moving average. However, that moving average is declining, implying that caution is still warranted. However IMO thats typical for such a bullish stock..
Strong Bullish Momentum
Momentum for WFL is strongly bullish. The 14-period Slow Stochastic oscillator is above 80, the level which many analysts call overbought. This means that investors have been actively purchasing shares and driving the price higher. IMO there has been ongoing accumulation games that have triggered this, at first I thought it was a serious pump and lots of props, but the big boys have been absorbing some serious volumes.... hard stock to accumulate when there is only 210million SOI...
Above Average Volume
Today's volume is on track to be heavier than usual. The On Balance Volume indicator (OBV) is bullish. The slope of the indicator is positive and suggests that buyers are presently more active than sellers.
Bollinger Bands Signal Volatility Squeeze ( I don't show the Bollinger bands on the chart as they make it messy)
Volatility, measured using the width of the Bollinger Bands , is extremely low, resulting in a condition called the Bollinger Band Squeeze. Bollinger Band Squeezes tend to precede major price breakouts, although they do not predict which direction the new trend will take. Trend and momentum indicators can be useful during Squeeze conditions to help discern the direction of future trends.
Enjoy holders, I think we haven't seen anything yet... I'm predicting a easy 100% from these levels in the near future..
If you like my charting and analysis please feel free to click over my avatar and click follow, please tag me in any other stock threads for some alike analysis, I don't always have time, but if I can I am happy to accommodate ... love being bought attention to other stocks...
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