Go to the Globe and Mail homepage

Jump to main navigationJump to main content

AdChoices

Entry archive:

Despite the series of higher lows during the past year (solid line), Weyerhauser remained below resistance at ±$33. (Getty Images/iStockphoto)
Despite the series of higher lows during the past year (solid line), Weyerhauser remained below resistance at ±$33. (Getty Images/iStockphoto)

What the charts say

Bullish on Weyerhaeuser Add to ...

Weyerhaeuser had a sharp decline from $37.04 to $26.73 (A-B) and then remained below ±$33 for almost two years (dashed line). Despite the series of higher lows during the past year (solid line), the stock remained below resistance at ±$33.

The recent rise above this level (C) signalled a breakout, renewed investor interest and confirmed the start of a new major up-trend.

Behaviour indicators including the rising 40-week moving average (40wMA) confirm the positive status. Only a decline below ±$31 would be negative.

Point & Figure measurements provide targets of $38 and $42. Higher targets are clearly visible.

Monica Rizk is the senior technical analyst and Ron Meisels is the president of Phases & Cycles Inc. (www.phases-cycles.com). They may hold shares in companies profiled.

Chart source: www.decisionplus.com

Report Typo/Error

Follow on Twitter: @RonsBriefs

Next story

loading

Trending

loading

Most popular videos »

More from The Globe and Mail

Most popular