Commodities markets took a big hit today.
The margin clerks will be busy tomorrow !
Here's a candidate should lumber prices stabilize.
Weyerhaeuser has benefited from higher lumber prices as production has decline and demand skyrocketed.
Worth watching. Targets, entry and a stop have been indicated.
A quick trade as the over weekly chars show a long term Bearish Harmonic Shark Pattern
Risk/Reward is 1.5 to 1.
As always do your own due diligence.
S.
The margin clerks will be busy tomorrow !
Here's a candidate should lumber prices stabilize.
Weyerhaeuser has benefited from higher lumber prices as production has decline and demand skyrocketed.
Worth watching. Targets, entry and a stop have been indicated.
A quick trade as the over weekly chars show a long term Bearish Harmonic Shark Pattern
Risk/Reward is 1.5 to 1.
As always do your own due diligence.
S.
Note
Here is the long term weekly viewS,
Note
Nothing actionable yet...idea closed as we went through original stop
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Disclaimer
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.