MONICA RIZK and RON MEISELS
Wabash National had a sharp rise from $5.65 to $14.91 (A-B) above its rising 40-week Moving Average (40wMA). The stock then settled in a horizontal trading range mostly between $10 and $15 (dashed lines). The stock is currently trading above its rising 40wMA.
The recent rise to $16.49 (C) signalled renewed investor interest and the start of a new up-move.
Behaviour indicators including the 40wMA confirm the bullish potential. A better entry may occur toward ±$15, but only a decline below ±$14 would be negative.
Point & Figure measurements provide an initial target of $19. Higher targets are visible.
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