Should you buy Weight Watchers stock ahead of January rush?
19th December 2018 10:46
by Alistair Strang from Trends and Targets
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This NASDAQ listed share is about to enter its busy season, so chartist Alistair Strang weighs up the odds of a January rally.
Weight Watchers International (NASDAQ:WTW)
It's that time of the year when many folks thoughts turn to January and the unpleasant need to do something about this time of the year's after effects! Is buying into Weight Watchers really a good idea?
At present, the share is trading around $46.50 and looks faintly troublesome for the future.
Though, to be blunt, it looks very possible the share price intends to lose some weight.
The immediate situation looks like any enforced diet below $43 shall lead down to a slender $32.50. If broken, secondary calculates at $28.3.
Unfortunately, the extreme danger comes should $28.3 break as the share enters a region with ultimate bottom down at just $8. We cannot calculate a figure below this point.
To remove itself from this big picture potential dietary disaster, the share price requires to better blue on the chart, presently at $56. In common with the prospects of avoiding chocolate this festive season, such a notion appears unlikely. Visually our best hope will be for a bottom at $32.50.
Source: Trends and Targets. Past performance is not a reliable indicator of future results
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