W.W. Grainger (GWW): Too Much & Too Fast
SUMMARY
When price goes vertical on a daily scale, I usually take some of the table. Why? Because it's just not sustainable. The below chart of W.W. Grainger (GWW) shows how price has gone vertical after correcting an ABC sequence. Do you think this is sustainable? Would you prefer to try and time its ending perfectly?
The sequence of blue impulse was correct through an ABC sequence and since then, price skyrocketed. This move is labeled as wave 1 and likely wave 2 is to follow. The MACD shows an extreme degree of overbought status and that means that it'll likely turn downwards which should coincide with wave 2.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Valuable information thanks for sharing
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Hey @Haejin, any chance you can look at Canopy (CGC)?
Alot of people are missing your Cryptocurrency posts, why did you have to go :(
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THX For your Infos here!
Great Work!!!!