Long
WALD — Potential Inverse H&S Bottom
Waldencast (WALD) surged more than 17% Tuesday, with investors cheering the makeup maker's ongoing efforts to reduce debts. Last month, the company inked a deal to offload its Obagi Medical dermatological skincare and aesthetics business to private equity firm Bridgepoint for around $460 million.
From a technical standpoint, the stock closed Tuesday above the respected 200 MA, increasing the likelihood of an inverse head and shoulders bottom, a chart pattern that signals a potential bullish reversal.
If the stock breaks above the formation's neckline, look for a possible move toward $3.00, where the shares may encounter sellers near a horizontal line that connects multiple peaks and troughs on the chart stretching back to August 2024.
From a technical standpoint, the stock closed Tuesday above the respected 200 MA, increasing the likelihood of an inverse head and shoulders bottom, a chart pattern that signals a potential bullish reversal.
If the stock breaks above the formation's neckline, look for a possible move toward $3.00, where the shares may encounter sellers near a horizontal line that connects multiple peaks and troughs on the chart stretching back to August 2024.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.