March 23, 2023

It was one week in the past that I wrote about Wayfair’s (W) large breakout within the Do not Ignore This Chart weblog. It had simply damaged above key resistance and quantity accelerated to its highest stage EVER! And EVER is a really very long time! 22 million shares traded on Friday, January twentieth as W gained 20.25% and quick sellers abruptly discovered themselves in a field. Both BUY on Monday and finish the ache or take an opportunity on large limitless losses because the energy continued. The good ones ended their ache. For others, it is develop into probably the worst migraine conceivable! I mentioned it will be an attention-grabbing week and it certain was as W gained one other 36% final week. The unhealthy information for the quick sellers is that I do not assume the ache will subside subsequent week both. Here is the chart, exhibiting yet one more closing breakout on Friday’s shut:

The amount final Monday set one other file as 27.5 million shares modified arms. Many quick sellers heeded the breakout and ended their distress after taking an enormous loss. Others stubbornly refused to provide in and they’re prone to face far more ache within the week forward.

Did you miss this thrilling alternative on W on the lengthy aspect? Nicely, I consider we’ve one other inventory that appears nearly an identical to Wayfair and it simply broke out on Friday on greater than triple its regular quantity. There’s an growing probability that we see an explosion larger subsequent week. I am that includes it on Monday morning in our FREE EB Digest publication. If you have not already subscribed, merely CLICK HERE and enter your identify and e mail deal with. There isn’t any bank card required and you could unsubscribe at any time.

Pleased buying and selling!


Tom Bowley

In regards to the writer:
Tom Bowley is the Chief Market Strategist of, an organization offering a analysis and academic platform for each funding professionals and particular person buyers. Tom writes a complete Each day Market Report (DMR), offering steering to members day by day that the inventory market is open. Tom has contributed technical experience right here at since 2006 and has a elementary background in public accounting as effectively, mixing a novel ability set to method the U.S. inventory market.

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