Bullish on Weyerhaeuser.Getty Images/iStockphoto
On March 25, 2017, we reported Weyerhaeuser Co. (Friday's close US$34.05) had a breakout above ±$33 (dotted line) and signalled higher targets. Subsequently, the stock rallied to $35.50 (A), pulled back to the rising trend-line (solid line – B) and then resumed the up-trend (C). Weyerhaeuser pulled back to its 40-week Moving Average (40wMA – D) recently and should soon resume the up-trend; a rise above $36-$37 would suggest this. Behaviour indicators including the rising 40wMA and the rising trend-line confirm the positive status. Only a sustained decline below $34-$35 would be negative. Point & Figure measurements provide targets of $42 and $44. Higher targets are visible.
Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. (www.phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled. Chart source: www.decisionplus.com
Monica Rizk
Ron Meisels