WN , George Weston

wn aug 5 2013 bwn aug 5 2013

See previous blog. Have not looked at this one for a long time. This is a sell, probable now but certainly if it creeps a little higher towards the 62% retracement level. The most recent move, up about $44, has a well defined 5-wave structure to complete the c of B. Next should be another C leg down to new lows. Note that both the RSI and MACD have not supported the new high readings in this stock. This stock is priced to perfection with a p/e of 25X+, rather odd considering the increased competition between this county’s grocery stores. A sell.