Pretty clear the situation for WPRT today was a buy the rumor and sell the news situation. Given the large and very bearish candle for this natural gas engine maker today, I think it may have seen it's highs- for at least a few weeks.
However, this stock has worked off bearish reversal candles in the past with no problem. And considering the strategic partnerships they have with global engine makers, Westport is without a doubt the leader in this emerging industry. I expect more good things from this company and their stock in the near future.
Fuel Systems Solutions (FSYS) was the big winner on today's Navistar news...
The stock was up over 11% on the day. Those who have watched this stock trade for awhile know this company had some problems last year. But now, it seems the company and the stock is ready for a comeback. Wouldn't be surprised to see a bit of profit taking in FSYS over the next few days, but after that I think a lot of traders will be looking to establish a long position in this stock, including myself!
Disclosure: As of now, I have a partial position in WPRT. Sold half my position near the middle of today's bearish reversal bar.
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