BuddFoxx2020 - The Chart And Technical Guru Of SH.... Clowns keep saying you can't predict the markets. Lololololol. Predicted it for 2 years straight as it was happening when the markets were still bullish and before the bear market even started. The treeplanter can lie all he wants but I always back up what I say. Once again don't listen to clowns. Every tools matters, the more you learn the better you get. More importantly never listen to clowns like NoShort The Treeplanter. My call on WELL the last 2 years and all technical warnings I pointed out from the charts. Still batting 1000%. Cheers and good luck.
BudFoxx2020 wrote:
This explains the pull back in share price. The markets just hate news about dilution. Completely derailed the momentum. Now we broke the $8 support and hopefully we hold the $7.80.
The only thing that I don't like is the sp managed to break $7.80 again. We need the sp to close above $7.80 and maintain the range $7.80 - $8. If the sp can't close above $7.80 today, they may just push it down towards $7.50 again.
Like I said the markets just hate dilution news. Once that $7.80 support was broken, it was all down hill. There is just no upside at the moment until WELL announce something big. Have your stop losses in place.
Now we are back to testing the $6.50 support. Does not look like it will hold. Next stop unfortunately will be $6.20. I got some stop loss that will probably hit. It is what it is. The markets are just not interested in Telehealth at the moment. Good luck.
If I were to guess, if Well does not hold and it breaks $6.50, we are back to the low $6. I am a big believer of the saying the markets are always right. The stocks are priced exactly what the markets says it is. Cheers.
$6.50 was a huge support for the past year and it broke through. Unfortunately, the trend is down and it is just the starting. Next huge support is $6. Like I said, you will do better with gut feeling and experience rather than falling in love with fundamentals. Thats just the reality in the markets.
Yes my last remaining long position in WELL stopped out at $6.50 and I even pointed it out based on charts what might happen. So far telehealth sector is the worst performer, all related stocks are making 52 weeks lows. Why would anyone want to touch the sector. Just look at the daily trading and the tapes, there is no buy interest whatsover. It's just that plain and simple.
The $6 support will not hold, I am afraid we are heading lower and the bottom trend just started when it broke $6.50
Anyways, like I have already said before, $6.50 was a huge support for the past year. I said it wont' hold. Once that went, it just confirmed the start of the downtrend. $6.20 confirms the downtrend. Breaking $6, which it will, will accelerate the downtrend. Then it is just a matter of trying to predict where the bottom is. As an investors you should always be rational, holding on blindly is not a sound investment advice. Wait till the fed hike the interest rate, what do you think will happen to the markets and especially stocks that are hitting new lows.
As soon as the corona hype started dying down and vaccines started coming out. I started telling theboard to start taking profits and start setting stop losses. The sentiments has changed. That is what investing is. You got to spot the trend, WELL was in a huge uptrend when covid hit in 2020 and now it is in a huge downtrend. It is that simple.
As far as techinical goes, the gap has not been filled. Like I already said previously, the gap can be any number from the run up from $1 to $9.
I will say this again, once tapering starts and they start hiking the interest rate, these growth stocks will get crushed. I am not talking about WELL, just growth stock in general. As far as WELL goes, $5 is now a huge resistance and there is no way it will break without any major news or catalyst. We just might hit new lows today.
I will just keep it very simple. $5 resistance, $5.20 to break out. $4.60 support, $4.20 is next support. The charts are your friends. Not imaginary price prediction based on future and fantasy Cheers.
WELL has not moved in all of 2021. At the tail end of the year it started trending down and making new lows everyday. That's over 1 year. How is that a moment. If you had 1 full year and you still can't figure out a downtrend. You never will.
Only thing that matters is the share price. Just watch out for that $4 support, once that goes it will easily drop to $3.
$4.20 is not support, $4 is the support for now. Once $4 goes, it will get worse. The early earnings stunt is going to backfire as the lustre wears off. People that bought are going to be forced to sell once this breaks $4 support and then the race to bottom starts.
The insiders are dumping. MM letting them liquidate at a fair price. There are no buyers. Once they are done liquidating. It is a fast drop to $2. I said the same thing at $6.50. Same pattern.
Don't say I didn't warn the board again. Just like I warned people to start taking profit from $8. Anyways, I am just here to share my experience, with insiders starting to sell, I will guarantee this should be in the $2-$2.50 range very soon.
The bear market and recession should last through 2023. The markets are dead money. As far as technical goes, once this breaks 52 weeks low $2.98, the algorithm and sellers are going to pile in and start cutting their losses. Then tax loss selling season will kick in. The next big support is $2.50 then down to $2.