Chart of the Day: Will This Holding Get 'Well' Soon?
Here's what might get some buying interest for this stock.
You're reading 0 of 1 free page.
Register to read more or Unlock Pro — 50% Off Ends Soon
It's been a rough road lately for Welltower (WELL) as the stock fell sharply in December and has not yet recovered. But taking a "glass half full" approach, we could argue the stock is building a long base above $180 with the intention of eventually moving higher. That seems like a dream at this point, as buyers are hard to be found.
Meanwhile, the technical condition is not looking great, either. MACD (moving average convergence divergence) is on a sell signal, and momentum has left the station with the stochastics pointing downward. Money flow is just meandering around below the zero line and the ADX is flat, so no trend whatsoever.
Is there anything we can say that is positive about Welltower? Not much right, although the stock is at a good support level. The chart has purple/pink candles, which is bearish on the GoNoGo composite of indicators. Flat is the new down, I guess.
What might get some buying interest is seeing a bit of price improvement above the $195 level and some supportive indicators. For now, Welltower is stuck.
We like Welltower in TheStreet Pro Portfolio and rate it a Two, or "stockpile on pullbacks."
At the time of publication, TheStreet Pro Portfolio was long WELL.
