Man stares at WBA chart breakdown, decides to ignore it
Using the example of probably the most boring stock I own (well, most boring company, anyway) I added WBA on January 26 with a tight risk tolerance at the SMA 200, since it was far from a priority holding.
Then of course it dumped the SMA 200. But I held on with the idea that the chart was playing the man who stares at it. Now it’s back above that marker, at least for the moment.
Moral of story? Stare at charts all you want men and women, but there is usually static or slush in play beyond your black and white parameters. WBA poked a thick support zone and is intact technically, despite a brief tolerance violation.
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