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  • Writer's pictureT. Livingston

Weave Communications Shows Institutional Accumulation

Weave Communications (WEAV) looks like it is currently seeing large buying by institutions. When we look at its' chart over the last three months, you can clearly see the large accumulation bars on the weekly chart. Like PLTR, this is not your "Aunt Suzzy" buying; it is funds and institutions coming in to purchase the stock.

WEAV had its' IPO in late 2021 right before the market entered into a bear market. Consequently, it corrected all the way down to around $3. However, since May, WEAV has run up to close to $12 on massive volume. Clearly, something good is going on. Even though WEAV does not currently have positive earnings, I've found it's best to always let the chart have the final say. WEAV is currently setting up in a high tight flag pattern. I will be looking to open a position should it break out with authority.

Risk right. Sit tight.

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Full disclosure: I currently own PLTR.

Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


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