Had a chart for this one also which had been requested on STT....

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DrFork

4,136 Posts.

20/08/16

15:30

Post #: 18565429
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Originally posted by thomas01 ↑

My investment choices have typically been based purely on FA, (which is why WPG is my biggest holding!). I'm keen to also back this up with some TA, to be able to better time entry and exit points, so I've started to use the Andrews Pitchfork charting method.
This is only my second Andrews Pitchfork chart, so still on a steep learning curve. Appreciate any feedback/interpretation of it. @nambo1
WPG is IMO starting to look very interesting from a charting perspective!
Volume starting to pickup since early July.
Since March the price has been moving within the longer term (orange fork), within the upper parallel and median lines, bouncing off the orange median line in late June (bullish sign). From early July, the price seems to be following the newer purple fork, with price following and bouncing off the lower (purple) parallel line.
This week the price touched the median purple line(with good volume), but failed to break through it. The price did also breach the longer term fork (upper orange parallel line) and touched the orange upper trigger line (dashed orange).
The price looks like it will consolidate within the lower and median lines of the purple fork for now, however recent price action is looking quite positive.
If/when the price does breaks above the longer term trigger line (orange dashed), it should be very bullish for the share price. I don't think we'll have to wait too long for this to occur.
Cheers,
Tom

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Had a chart for this one also which had been requested on STT. In addition to the forks you have drawn, added two more that describe current time period.

WPG Price at posting: 10.0¢ Sentiment: None Disclosure: Not Held
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Had a chart for this one also which had been requested on STT....

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