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Westport Innovations Inc. Message Board

  • stockineer stockineer Mar 24, 2013 8:25 AM Flag

    WPRT TECHNICALS

    Hey guys, this is my first post to your board, but you'll see me around a little more since WPRT has grabbed my attention. I just did some analysis of WPRT and am looking to share to have some good conversation. I did the stock analysis over the last 3 year history and have seen some interesting things. You're probably aware of the massive drop last year (maybe you guys can fill me in as to what happened) at any rate, it formed a very large right triangle which the price broke out last month which is good news for longs.

    The price has formed a nice upward trading channel and is coming down to touch that level right now. $28 would fall pretty much right on that line. These pullbacks are good because it allows more buys to come in and build a stronger base...it puts support levels beneath the price.

    There are a few reasons to worry about this level holding....the primary one is that the On Balance Volume (OBV) trendline has broken which often serves as an early signal. It served as an early signal to the right triangle breakout as well. It's just worth keeping an eye on. The good news about the large failed right triangle is that the pattern is so big...which offers a price prediction of $55 an that is what has really grabbed my attention. That's not too shabby.

    At any rate, I've posted 8 pages of analysis, Fibonacci retracements and charts on STOCKINEER as it's impossible to do so here, if you guys are interested in technical analysis. I'm the author of the page, but I just wanted to give you guys the summary here to share the info. Most of all, watch out for the lower trendline breaking...you do not want to go back to $22.50. Good luck guys and trade wisely. I'll see you around.

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    • You technical guys ever read what you write? You talk about various shapes, dips, channels, necks, handles and all this other funny stuff. Me? I think you guys are silly and a bit divorced from reality. Still, I believe that this is a most interesting company, and I will invest some money here if and when they are actually bringing in more than they are spending. Divining the golden octagon, I believe this day might come in three or four years. Fingers crossed ;+)

      • 1 Reply to stockgirlscolon
      • I'm just giving a technical perspective/explanation for how far the price fell and I will respectfully disagree with you. If it wasn't effective, we wouldn't do it. These are not arbitrary shapes, they represent physical buyers and sellers. This in turn is support and resistance, which I'm not sure anyone would disagree with. I'm with you that this is an interesting company which is the attraction and any given event can give the price a jolt, but when support breaks price suffers sharply as it did today. I have no idea what'll happen tomorrow, but I hope it goes up because I still own shares.

        Take a look at my featured article on WPRT technicals. It may change your mind.

    • Quite the massive drop today. I will say that I was relieved of half my shares as a result. I suppose the drop was a result of the article written today, but I have some further input. Take a look at the last month or so, starting April 22nd. Price was consolidating in a triangle pattern. I'd been monitoring it for a little while. The trendline was right at $28.50...and when it broke, the selling happened quickly so I suspect lots of stops were hit, like mine. Look at how far the price fell...bounced off the the major support of $27.50. If that breaks, it'll likely spell a lot of trouble.

    • From my point of view, the technicals on WPRT are looking very solid. The price has finally come up off the lower support with a vengence. So that's not the only thing, momentum indicators have all turned positive, we've gotten a cross over in the stochastics and in the MACD, all buy indications. Longs are looking for a break north of $30 to confirm the trend which could happen very soon...maybe tomorrow?

      I've got the update and updated charts on Stockineer as usual. This is looking good guys, let's hope for the breakout. Price target is still $55 and I show how to arrive at that number...it's not rocket science, just based on the last move.

    • Good news longs...the price broke out upward from the descending triangle, rather than confirming that looming double top. The current chart is actually really neat (if you're into this sort of stuff). $29 was another significant level, which formed the neckline of an inverse head and shoulders. So there were two breakouts today, the inverse head and shoulders and the descending triangle. This was a pattern within a pattern...well there's another. Did you see how the price was halted around $30? We now have a double bottom situation in which we hope the breaking of the first two causes a domino effect and the price breaks above $30. These are neat situations in which you can get an early buy signal. Of course there are no sure things, but the momentum indicators have turned positive so it seems like a good setup. Hey, how about the 100 bagger article from MF? I've had a 50 bagger, but never a 100...so good luck bulls....hopefully the market holds out long enough for that to happen.

      I've posted the charts as well as the near term and longer term price targets on Stockineer.

    • I just added an updated chart if you guys are interested. The price continues to flirt with a double top as it trades in a descending right triangle. We're waiting for a break in one direction or the other to give us a clue to the next move.

    • I just wrote an update on WPRT and posted it. The price tested the neckline of a potential double top...be very very careful. The pattern suggests a move to $22.50 which I illustrate on the charts. I don't want to be doom and gloom but I don't want you guys missing something obvious. If you're not a technical trader, ignore this, but if you are, you understand what a double top means and the implications. If it breaks below $27.50 it could be very bad. The OBV line has already completed a double top and it has been preceding the price action at many instances, so just keep any eye on $27.50. It's all on stockineer for you guys...I hope this helps. I hate to bring potential bad news, but it's better than losing a bundle. I can see a little rebound tomorrow...the price is in a descending triangle right now so I could see price testing the upper line of the triangle....and hopefully pierce. Just remember, nothing has broken yet...you need a break to confirm the pattern.

    • The price broke not only the $28 level but also the lower trendline. I'm a little concerned that it didn't give much support, but there did seem to be a nice bounce around 1:30. I never entered the trade because I got spooked when the trendline didn't act as expected, so I'm still waiting for the entry signal.

 
WPRT
4.01-0.02(-0.50%)Jul 31 4:00 PMEDT