Blue Chip Daily Chart of the Week:
Wisdom Tree Cloud Computing ETF, WCLD
Stop level for position traders and investors: $33.94
Shorter term traders would use a stop just below $36.
please see chart analysis below
– WCLD is in a technical uptrend, above the rising 50, 100 and 200-day moving averages.
– The rising moving averages indicate a strong uptrend on multiple time frames.
– WCLD recently consolidated 12.9% off all-time highs and held above the rising 50-sma, a sign of an intermediate term uptrend as well.
– The rising 50-sma below is a key trend gauge in this uptrend, that we would want to see hold on any potential tests here.
– We shared with our Subscriber’s our current Top 5 stock ideas in the Cloud Software space this morning, which we think can outperform from here. Join here to see today’s best stock ideas: https://bluechipdaily.com/join-blue-chip-daily/
– Cloud software and the leading stocks in the group have been our #1 focus group since early April, as can be seen here:
Have a great week,