WSM rose above its 8-month downtrend line in July. WSM had declined 54% from the November 2021 highs to the May 2022 lows. WSM is currently battling with the 200DMA; which was stiff resistance from December to March. The zoom chart shows that WSM is at support from its new uptrend line, which will most likely carry it over the 200DMA once and for all. WSM’s 50DMA is about to cross above the 200DMA, which was a very positive signal in 2020. The reverse was a very negative signal in 2022.
