Technical Summary: Since its IPO it has been one way traffic for the stock of WTC. The stock has been on a great run for the last few months and sits overextended at this juncture. It does not provide a low risk buying opportunity at this point because the stock could be susceptible to a snap back in price or a consolidation. This snap back has already occured once this year and
we have highlighted it on the chart. The stock has provided 2 brilliant buying opportunites in the last year. This was after the stock had formed a base and was characterised by a tightening of price action and a dry up with volume. The volume and volatility dry up is common with stocks where selling supply has been exhausted. The stock became buyable as soon as volume hit the stock. With little selling supply the stock burst to the upside on both occasions.