Winning Brands Corporation (WNBD)

[just_an_ant]

WNBD chart and supporting read for longs and traders

MACD divergence and a Falling Wedge - Bullish

good example/read in my opinion

http://premium.working-money.com/wm/display.asp?art=695

some snippets:

Nothing is exact, but these are general guidelines. The key is learning to trust these divergences when they occur and not lose patience when they do not work instantaneously. Unfortunately, many traders make just this mistake. Trading is an emotional game, and you need to trust that these divergences will work given a little leeway and time. I can say without exaggeration that MACD divergences work, if read properly, more than 75% of the time.

MACD divergences work in all markets -- stocks, forex, futures. Not only is it a powerful, primary tool for trading, it is also what I use most in deciding which side of the market to be on and what stocks to buy or short for my investment/trading newsletter service. MACD divergences have been successful throughout the years, and I would encourage traders to take the time to learn as much as possible about how they work.

and now the chart



from stockcharts

The falling wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout.

The falling wedge can also fit into the continuation category. As a continuation pattern, the falling wedge will still slope down, but the slope will be against the prevailing uptrend. As a reversal pattern, the falling wedge slopes down and with the prevailing trend. Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns.