Our analysis is based on long term trends, and if they are promissing, short term analysis. First, we view the
3 year weekly charts, followed by a 1 year daily chart. This analysis allows you to view the larger picture and trend,
rather than just looking at a short term prospective. This way, you can use short term volatilty to your advantage, if the
long term trend is positive.
You will see a summery of the stock we are analyzing, followed by the 3 year and 1 year charts. At the end, you will see a technical analysis summery. That's it,
to the point technical stock market analysis daily!
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Technical Analysis for February 9 2006
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| STOCK: WEBTECH WIRELESS (WEW) |
WEBSITE: www.webtechwireless.com |
| CURRENT PRICE: 1.55 |
TREND: UP TREND WEAKENING |
| TARGET PRICE: N/A |
RECOMMENDATION: PASS |
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Long Term Chart (Weekly 3yr) - To view the bigger picture
Charts Courtesy of StockCharts.com
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Short Term Chart (Daily 1yr) - Where to take a position
Charts Courtesy of StockCharts.com
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This Canadian company has had a terrific run over the last few years, and it may be time for it to take a break going forward. On the long term charts, you can clearly see the price moving along the indicated trend line, and it has been moving higher. By itself, this indication would be positive, but the MACD developing a lower high, suggests that the momentum in waning here. The STOCHs seems to agree, and are also heading down here. On the short term chart, the price is bouncing around $1.50, and during its last consolidation phase, it found support near the 50 day moving average, which currently stands around $1.41. The MACD histogram shows a possible bottom here, but the MACD itself is heading down still.
Bottom line, this stock could bounce from current levels, but indication is weak, and the long term momentum seems to be weakening, so this isn’t the best candidate if you are long.
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