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Wabash WNC-N declined from US$26.54 in February 2018 (not shown) to US$12.40 in October 2018 (A) and then built a multi-year, bullish technical base known as an Inverse Head-And-Shoulders (solid lines). The stock ran into resistance near US$21 for about two years (dotted line) but pierced above this level in late 2022 to signal a breakout and the start of a new up-trend (B).

Wabash reached a high of US$30.09 in February, became extremely overbought and was far above the 40-week Moving Average (40wMA – B). It had a correction to the Average and the rising trendline (solid line – C) and now appears ready to resume the uptrend. There is good support near US$22.00; only a sustained decline below this level would cancel the current upside potential.

Point & Figure measurements provide targets of US$31 and US$33. The large Inverse Head-And-Shoulders pattern supports higher targets.

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Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication ( Chart source:

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