This is a solid lockdown play and as more states ban indoor dining WTRH is going to increase business. The chart looks like WTRH is offering a low risk entry at the current level.
The volume profile (fixed) from 9/1 to current is showing that most shares in that period have been traded at the current level (Red POC line) also the price closed at the .38% fibonacci level after testing the 50% level. The RSI is under control and the moving averages are all currently in line : 9ema above the 20ema, 50MA above the 200MA which means the uptrend is continuing.
In the short term I am looking for this to move up the fibonacci scale with a first target of $4.10 and then to its most recent high of $4.60
The volume profile (fixed) from 9/1 to current is showing that most shares in that period have been traded at the current level (Red POC line) also the price closed at the .38% fibonacci level after testing the 50% level. The RSI is under control and the moving averages are all currently in line : 9ema above the 20ema, 50MA above the 200MA which means the uptrend is continuing.
In the short term I am looking for this to move up the fibonacci scale with a first target of $4.10 and then to its most recent high of $4.60
