$LUMBER has been a great story for the last 5 years. However, the roller coaster has been difficult for investors to watch. It's been a traders market. This week, we got a signal on the $LUMBER chart.
The slope of the recent rise has been a lot more gradual than the slope of the 2012 rise. Importantly, $LUMBER looks set to roll over here with a confirmed cross on the MACD after the momentum flattened out in November and December.
Good trading,
Greg Schnell, CMT
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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