Sunday, July 5, 2020

World Wrestling Entertainment (WWE) may continue its rally

World Wrestling Entertainment stock (NYSE:WWE) is currently making attempt to rally further upwards. Since the end of the recent bearish movement (which ended in March 2020) rally efforts have been in place.


Since March till now, bulls have been pushing the market upwards gradually, although the bullish momentum waned in June. Right now, there is a perceived attempt of bulls to continue pushing price upwards.


4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart. EMAs 10, 20 and 50 are currently sloping upwards, and price is above them.


When the lurking bullish momentum becomes significant, price would have crossed the EMA 200 itself to the upside, giving unwavering bullish bias on the market. The outlook on WWE is bright and things will improve from here.



Azeez Mustapha


Market Analyst, Trading Signals Provider and Coach


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