Wajax Corporation : Technical pattern of a reversal
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
CA$43.2 | CA$0 | CA$41.7 | -100% |
Even if the security is in a bearish trend in the long term, it has rebounded in the CAD 38.9 support area. This rally left this level to reach the USD 43.6 resistance. Therefore, volatility has brought down but a cross of this level might help a new bullish trend.
Active investors could take a long position in Wajax Corp thanks to its graphical pattern and its strong fundamentals. The target price is CAD 45.63. A stop loss order can be placed under the CAD 42.25 to avoid important losses.