Let’s make a pitstop at Wingstop $WING – May 9, 2024
This is Scott at StockMarketMentor.com with your Chart of the Day. I want to take a look at Wingstop ( NASDAQ: WING ).
Wingstop ( NASDAQ: WING ) has been a pretty Steady Eddy trade since November when it broke out above all these moving averages. As you can see, this trend has been strong and it’s only tested the 50-day moving average one or two tests of the 50-day moving average, and then it’s back into the trend.
This is a very strong trend that’s already in motion. I would definitely keep an eye on this stock for an entry close to this orange line, that’s the 8-day exponential, or even close to the blue line. Look for a green day bounce off of those moving averages, and then just let this thing work. As long as it holds up above the 8-day EMA, I think you want to stay long this stock.
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