Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Lumber's Bull Opportunity

Published 12/23/2016, 08:04 AM
Updated 07/09/2023, 06:31 AM

Lumber Weekly

Lumber's focused bull opportunity produced a 17% annualized return for the bulls from the second week of March to third week of November (see Matrix below). This opp recorded an impressive 397% annualized return after the second week of March. Lumber has been consolidating since the third week of November. Smart money continues to wait on the sidelines until consolidation yields either to a focused bull or bear opportunity.
Lumber Matrix

A weekly close above resistance from 338.70 to342.30 supports the up impulse, while a close below the January 2015 gap from 295 to 302.4 could reverse it. A reversal favors testing of lower support.

On Balance Volume (OBV), a crude measure of trend energy, suggests mild accumulation, which favors the bulls.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.