Wisdom Tree Breakout
Nov. 26, 2013 5:08 PM ETWT Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.
Shares of Exchange Traded Fund (ETF) manager, Wisdom Tree (WETF), have broken out of a 7-month horizontal price channel. High level price channels or "rectangle patterns" are the most profitable bullish price pattern according to chart pattern guru, Thomas Bulkowski (author of The Encyclopedia of Chart Patterns). Wisdom Tree has impeccable fundamentals, including a +300% EPS growth rate, and is currently riding the wave of popularity of ETF's among retail investors. Here is the chart:
Disclosure: I am long WETF.
Additional disclosure: WETF is a current pick in our Trend Trade Letter and I own shares through "The 8:18 Fund" which I manage.
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