WBD trading in the golden pocket between $13.46 and $14.68 as well as the .618 trend based fib at $14.28. Bearish momentum is decreasing on the Weekly TF as well as an imminent bullish cross on the MACD. Earnings coming up. Should price continue to make new yearly lows, $9 is next. Undervalued here imo.
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Being a bit careful here as WBD is tagging 1.618 fib extension. Overextended with earnings coming up. Will accumulate more shares back in the grey area
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With SPX looking to temporary reverse back to ~4,000 imo, WBD will probably drop back into the accumulation area especially after that abysmal earnings report. A lot of shorts having fun, but regardless of Debt > MC, Price to Free Cash Flow is nearing a new ATL at 4.67.Note
Scooped up some more shares at $14.8Note
I probably should have paid attention to that massive shooting star on the weekly TF! Still not a bad buy here imo. I'm not too concerned with the financial FUD from the bears
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So Burry completely cashes out of WBD. This is where FA contradicts with TA. If it wasn't for 1) star on weekly TF 2) S&P shitting the bed, I'd happily double down. Against my better judgement, I'm holding on here.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.