Wellard Limited (WLD.ASX)

20 February 2019

Technical Summary: The chart on the right shows you that WLD has been a pretty disappointing stock for investors as it has moved from over $1.40 per share to sub 5 cents. It has been a 25 bagger in reverse! The question now is whether the company has turned itself around. Investors and traders should at the very least be skeptical but the stock in recent times and during a difficult market has shown some positive price action. In November last year the stock found a low and then rallied. The stock then sold off and retested but did not break the low before gapping up in recent times after a strong fundamental update. The stock has spent the next few trading sessions consolidating. It will be interesting to see whether this consolidation holds.

Huge underperformer finally shows some strength?

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