SWBI: Locked and Loaded, heading higher
Updated
SWBI has a very bullish setup. Wave 2 may need one more leg down sub-$11.50, but it is not required. Appears to be a very high probability double over the next 12 months.
Comment
Upon closer examination I think this counts better if you place the Wave 1 at the $11.60 peak set on February 2nd, and the peak set at $12.62 on April 11th would be Wave 1 of the larger degree Wave 3.That being said, we are entering Wave 3 within a Wave 3, which is the most powerful wave, so I expect a sharp move to the upside in the near term.
However, the sell zone is now more in the $20-23 range, rather than $23-27 because of this.
But note that the sell zone is just for traders, if you are in it for the long-term there is no need to sell, because ultimately this pattern is pointing to a triple-digit share price within the next couple of years.
Comment
Strong move yesterday +4%. Would like to see some follow through today and a break above the $12.62 most recent peak to confirm the uptrend. Very bullish action.Comment
Very strong +20% move following good earnings and dividend increase. This one is ready to go off to the races.Disclaimer
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