WestRock Co. (WRK): A Whale Jumped into a Kitty Pool!

SUMMARY

Two things are noticeable right away for Westrock Co. (WRK) weekly chart. The first is the downward bullish wedge that is being paterned out. It'll likely coincide with blue wave 4. Many would have labeled the blue 3 as the 5 but with pattern utility, it allows to be aware of other counts.

The second thing that's quite noticeable is the V-neck reversal. Talk about a scenario where a whale or institutional money just jumped into the kitty pool! The downward wedge is labeled as an abcde sequence and if correct, the final e wave is expected. There should be a turn and that'll start with a breakout from the wedge and the white impulse shows the projected pathway to blue 5.

The MACD looks to need a bit more decline before turning up as shown by the blue arrow. It should support the upcoming impulse aggressively.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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