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WFG Stock Tickeron detected bearish Stock Pattern: Cup-and-Handle Inverse on September 05, 2024

A.I.dvisor
at Tickeron.com
09/07/24
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Cup-and-Handle Inverse
WFG - West Fraser Timber Co Ltd
Emerged: 09/05/24
Breakout: $85.58
Price: $87.96
Target price: $80.91
A.I.dvisor detected a bearish Cup-and-Handle Inverse pattern for WFG stock. This pattern was detected on September 05, 2024 . The odds of reaching the target price are 6. The Inverted Cup-and-Handle (sometimes called Inverted Cup-and-Holder) pattern forms when prices rise then decline to create an upside-down “U”like shape (1, 2, 3, also known as the Cup), followed by a shorter relatively straight price increase that bounces from the right lip (from 3 to 4, creating the Handle). Consider selling the security short or buying a put option at the downward breakout level. The confirmation move is the breakout of the price below the right cup lip.

WFG's RSI Indicator peaks and leaves overbought zone

The 10-day RSI Indicator for WFG moved out of overbought territory on August 01, 2024. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 31 instances where the indicator moved out of the overbought zone. In of the 31 cases the stock moved lower in the days that followed. This puts the odds of a move down at .

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General Information

Industry ForestProducts

Profile
Fundamentals
Details
Industry
N/A
Address
885 West Georgia Street
Phone
+1 604 895-2700
Employees
10800
Web
https://www.westfraser.com