West Jet - Bottom is in?$WJA showing signs of a reversal forming, bouncing right off the strong support at 23.50~ and bottom of the ascending channel, while simultaneously touching the bottom Bollinger Band. Daily MACD also crossing over.
Overall, $WJA showing very strong buying signals for the short term trader.
WJA
WJA - West Jet Airlines Loses LT trend on high volumeThere is a possibility of the stock falling to 26.50 levels where the bids have been strong. The risk of this trade is that westjet is still fundamentally strong compared to the TSX when looking at trailing numbers and is close to oversold levels on the 14 day RSI. This might prompt a wave of buying relatively early. It is not uncommon however, that stocks become deeply oversold at the 14 day RSI level when support is lost
