Appliance producer Whirlpool (WHR) recently returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since April of 2016 and climbed another 45 spots yesterday to 75th place.
Whirlpool (WHR) continues to climb this week, breaking out over $150 and snapping a long-term downtrend resistance line. The shares are currently bumping up against $160 with next potential resistance on trend at the previous peak near $185, then the $200 round number. Initial support moves up toward $150 from $140.
Whirlpool (WHR) shares have been steadily rebounding since March, climbing in a step pattern of advances followed by consolidation at higher levels. This month a new rally phase has started, building on a recent bullish Double Top breakout. Next potential resistance tests on trend appear near $175.30 based on a horizontal count, the previous peak near $182.40, and then $189.75 based on a vertical count. Initial support appears near $146.50 based on a 3-box reversal and old support/resistance points.
With a bullish SMAX score of 9, WHR is exhibiting near-term strength against the asset classes.
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