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Wabtec (WAB) Short-Term Trade Recommendation Triggered

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Wabtec (WAB) Short-Term Trade Recommendation Triggered

Introduction

This article was posted on Wednesday, 20:50, UTC.

Wabtec  (WAB): Short-Term Buy

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WAB 4-Hour Chart Analysis

On June 22, we covered the stock in an analysis with both long- and short-term trade options. Today the short-term recommendation got triggered, so we reiterate our bullish view on the stock.

Wabtec commands a higher P/E compared to its peers and the S&P 500 due to its strong historical performance and a strong management.

For the short-term momentum traders, we recommend a buy at $90 with a stop loss at $84 and a likely price target of $102.

For the longer-term traders, we advise a buy on dips closer to $83 and $78 with a stop loss of $72 and a target of $104 and higher.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Rakesh Upadhyay

Rakesh Upadhyay

Rakesh Upadhyay is a Technical Analyst and Portfolio Consultant for The Summit Group. He has more than a decade of experience as a private trader. His philosophy is to use technical analysis for momentum trading and fundamental analysis for long-term positions. Rakesh likes to keep himself fit by lifting weights and considers himself to be a spiritual person.

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