Today, shares of WW International Inc. (WW), formerly Weight Watchers International, Inc., is declining after reporting earnings. The stock is trading lower by 9.63% to $23.96 a share. The shares are currently trading below its 50 and 200-day moving averages. This puts the stock in a weak technical position. Traders must now watch the 100-day moving average as an important support level for WW stock. At this time, this moving average is trading around the $22.92 level. Should the WW share price decline below this key level it could signal a much bigger drop in the shares.
Currently, WW stock still has a bullish consolidation pattern in place on the weekly chart. A failure or break of this bullish pattern on the weekly chart would signal a big move lower for the stock. So traders must watch this pattern very closely in the near term. After all, the best moves come from failed moves. Either way, this stock is on shaky ground right now after today’s decline.
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