Wanderport Corp (WDRP)

[hmp660]

Actually, I think .025/.026 is WDRP's first level of support and yesterday's action was an overshoot. However, .022 is it's strongest level of support as that is where it's toughest level of resistance was on a closing basis prior to consistently trading above .02. That is also the level from which it made a run to .04. Therefore, it is important for WDRP to hold above .022 on DAILY closing basis. A close below .022 would worry me but, not to the point of throwing in the towel.

As of right now WDRP is working off overbought conditions in a very healthy manner. What folks need to remember is that stocks do not go up in a straight line. They will also often make very violent intra-day moves between support and resistance levels before moving into a new trading range. What is most important to me in any stock is the close. Over the years I have found that regardless of what type of intra-day move a stock makes, it almost always closes just above a support level, or just below a resistance level. Intraday pokes above or below certain levels don't interest me very much. FWIW.

-Dave-