Wonder Auto Technology – WATG reached a long term price target today. The projected price of 11.37 was set on May 27, 2010.
Initially the stop was triggered in this trading set up, possibly because the expected internal wave 1 of that time frame had not been completed. A look at the bigger picture raises some concern that WATG is in a wave 4 corrective wave or an incomplete ABC simple correction. But, this latest price target may still fall within a larger uptrend. More trading concepts on WATG current price motion to come…