WAMUQ Washington Mutual Still in a Congestion Range

wamuq

WAMUQ is still contained within a lot of sideways congestion but if it can bust up above .10 cents then it may have a decent shot at challenging just under .12 which would put it just under the down trend line that has been in force for several months.

If the broad market can manage to hit a new high in the days ahead which is starting to look possible, then WAMUQ might continue along this near term uptrend and then possibly make a stance under the resistance line.

Whether it would be able to break out from this resistance is a whole other question.  I am just looking at the steps WAMUQ needs to take to develop into another breakout.  I am going to set a price alert on WAMUQ at about the .115 level so I will be alerted when and if it gets there.

I will do a follow up post on it in a week or two depending on how things shake out.

Posted in Market Timing, Stock Setups
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