WSA had done well since we tipped it a year ago close to $2. However the stock is now clearly heading lower after having broken the uptrend in September. During the market bounce in October – November, WSA struggled to go higher. As indicated by the solid blue lines on the chart, this now appears to be a continuation pattern. That is, the stock was just taking a rest before resuming the downtrend. This continuation pattern was broken comprehensively a week ago and is now retesting that break. Chances are that WSA fails at this point and continues to head lower. We are targeting some support around $3.20, which is a fall of a little over 20% from current levels.
