What Makes This Trade Great: Wolverine Worldwide Inc. ($WWW) Earnings Play
What Makes This Trade Great: Wolverine Worldwide Inc. ($WWW) Earnings Play
Nov 7, 2024
Posted by Barrie Einarson
Hello, everyone! Let’s talk about Wolverine Worldwide Inc., ticker symbol $WWW, which came up as a solid earnings play today. This week is packed with earnings reports, and $WWW hit my radar early on with an AI alert at $19.52. Let’s break down what made this trade so interesting. To Subscribe: https://go.trade-ideas.com/SHQ
Use Promo Code BARRIE15 for 15% off
Key Analysis with VWAP and GoNoGo Charts
Now, I like to keep the VWAP (Volume Weighted Average Price) on my charts as a guide—on my setup, it’s that red line. Right before the AI alert came in, $WWW was hugging that VWAP level closely. Once the alert hit, it exploded upward, with just a couple of small pullbacks.
For those of you who follow GoNoGo charts, the color transitions were on point:
- Blue: This color means it’s very bullish, so at this stage, I was holding strong.
- Cyan: When the color shifted to cyan, it indicated “less bullish,” which for me meant it was time to take partial profits but not a full exit.
Scaling out instead of fully exiting is a strategy I stand by. It allows you to take profits while staying in the trade as long as there’s still potential.
What’s Next for $WWW?
While I can’t say exactly where $WWW will close today, this trade demonstrated the strength of combining AI alerts, VWAP, and GoNoGo transitions. Each element helps shape a stronger, more guided approach to trading.
Thanks for tuning in, and stay sharp out there!