BUY $WWE Day 5
End of Day - Fri, 12 Feb 21
I am looking for $WWE to give us a 1) a downtrend reversal & 2) a break out from the downtrend line seen on this chart. Both happening at the same time on higher volume would be bullish.
A downtrend reversal in my way of thinking is not only a higher high, but a higher low as well.
And a breakout means the stock breaks through that downtrend line and grows a white candlestick showing a possible close above the last day's close.
One bullish thing of note is $WWE never fell below its 200 day daily moving average on this chart.
One bullish to monitor is if volume picks up on a breakout? As noted on the chart, normal avg. daily volume (90 day average) is 1,160,000 shares traded.
While at it, let's go over the last earnings on 4 Feb 21 AMC (after the markets closed @ 4:00 PM) and I will tell you why I won't be keeping gains from this trade in "underlying" shares":
Profit: +.24 CENTS per share
+20% eBEAT (earnings beat analyst expectations by 20% for this quarter)
(-1.1%) rMISS (revenue missed analyst expectations by (-1.1%) for this quarter)
rd revenue declined (-26.2%)
The thing not mentioned is $WWE is looking to turnaround their outlook by more Pay Per View events. So, this company could be on the mend and stop their recent slide.
These guys own the Entertainment space for "Rasslin" and they are not going anywhere. Plenty of gullible people on this planet who still enjoy "reaility TV".
Bit is this a New Economy subversive business stealing market share and growing like kudzu along a country highway? Nah.
This is a "trade it" and "leave it" stock you don't fall in love with.
(Unless, that is, you like men grappling in their shiny underwear and faking orgasmic pain that disappears in mere seconds?)
BUY $WWE - Day 5
End of Day - Fri, 12 Feb 21
