$WIRE about to get trippedI've been a long-term bull on NASDAQ:WIRE for years, and it continues to be one of my largest positions. Fundamentally, there's nothing that changed my mind about the company. I've listed some of the reasons I like the company in this mind , and they're as valid now as they were last October.
That said, I am thinking about reducing my position for a couple of technical reasons:
The 2x Fibonacci extension of the run from March 2020 to November 2021 is at $265, less than 2% from the current level.
The stock is about as far ahead of its 50-week SMA as it has ever been.
Again, I like this company long-term, and I down plan to sell more than half of my position. And I would absolutely buy back on a pullback towards $220.