WNR might be in for a quick pop between $9.50 to about $10.50.
If we broke through $9.50 this would be a cross through two key points:
- The previous support floor
- The 20 day EMA
Speaking of the 20 day EMA, check out what happened the past two times WNR moved crossed it. Both times (denoted with a blue arrow) resulted in a nice pop.
Another attribute i like here is the positive divergence on the MACD. It has been slowly trending upwards starting in late March.
STO and RSI have both recently spiked with a bullish move upwards as well.
As usual i would enter this trade with a trailing stop loss probably set at around 5-6%. Enter @ a cross through $9.50 with good volume and look for pain around $10.50. This is a very speculative chart for me.