The technical case for Woulfe The following is our beautiful WOF chart, as I annotated it. On the first run up from .19 to .33, the stock retraces (see blue lines) a classic 50% to 26 where it consolidates for five full days, weak hands out. After this consolidation, it then tests its .33 resistance high, bounces off the high and again retraces, this time, another classic: 61.8% to establish a higher low of 28 (see red lines), more weak hands out. Finally, beginning around 12/19/12, the stock makes another run on .33 its resistance, but this time breaks out and above .33 resistance to approximately .39, a new recent high. Thus, old .33 resistance now becomes a significant support level for the stock. In the meantime, in the last three days, the stock has been retracing its recent gains, potentially for only a 38.2% retracement to .35 (where it traded today, but did not close, as preferred). Thus, I surmise (and hope) that we can complete the fibonacci 38.2 % retracement at .35 soon so the stock can resume its uptrend (higher highs and higher lows) toward next resistance levels in the early .40+ plus range and, hopefully, breakout upward from that level. Absent disappointing news, as I see it, the worst case (which is really technically neutral-not bad) seems to be that the stock retraces to its .33 support before resuming its ascent. This is why I think this chart is so beautiful. None of this even addresses the great RSI and MACD indicators on the stock. I am all in on Woulfe and very excited about its future, both from a technical and fundamental standpoint, as I am sure are all of us. I hope the chart explains my excitement. Certainly, .33 to .35 appears as an "accumulate the stock" range as it stands. Good luck to all!
