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We tipped Western Areas (WSA) here in December when it was $2.18 now that it is trading at $4.48 I will provide a new target

Michael Gable

Fairmont Equities

We tipped Western Areas (WSA) here in December when it was $2.18 now that it is trading at $4.48 I will provide a new target. We have had a look at the longer term weekly chart, and there appears to be a strong level of resistance at $4.60. This also happens to be the 50% retracement of the drop in share price between the 2011 high and the 2013 low. The recent low in its current uptrend is at an intraday price of $3.92, so as long as it can hold that level, the uptrend is intact.

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Michael Gable
Michael Gable
Managing Director
Fairmont Equities

Michael Gable is managing director of Fairmont Equities. We are a small boutique advisory that uniquely combines both fundamental and technical analysis. As a result, our analysis is featured regularly in the finance media such as the Australian...

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