Wix Is Going Higher: Time to Buy?
Andy Snyder|September 13, 2021
We’ve got a very interesting chart for you this morning.
Over the last few weeks, we’ve taken a deep dive into the strategy behind our popular Alpha Money Flow service. It’s a volume-based charting system that hinges on what we call the Liberty Indicator.
With it, we can see who’s buying and how the buying pressure is stacking up. And, most importantly, we can get a very good sense for exactly when we should buy.
Until now, the Liberty Indicator has been only moderately bullish on the tickers that your fellow readers have asked us to study.
That changes this week.
Not only did the Liberty Indicator just turn green for this stock, but there’s also some news that tells us the folks behind it are serious about raising the share price.
Take a look at this chart for Wix.com (WIX), the $12 billion website-creation platform…
It’s certainly not the prettiest chart.
There are some very big dips in it that came after disappointing earnings reports. But there are three things to note about this chart and this play.
First, shares nearly fully recovered after the big dip in May. And they appear to be putting in a repeat performance now.
Second, Wix is serious about its valuation. After all, it just announced it has made good on the $200 million share buyback program that it announced in May (which was the catalyst that helped spark the rebound).
The end of the current plan means we are likely to see Wix begin another buyback plan after it announces earnings in two months. If it does, a share price below $300 could be a thing of the past.
And, finally, proving that we’re not alone in this thinking is the fact the Liberty Indicator (at the bottom of the chart) just went from red to green.
It tells us that buyers now outpace sellers. It’s the key crossover that typically marks the start of a long-term uptrend.
So we’ve got an oversold stock, a strong likelihood of a fresh buyback program and dominating buying pressure.
We can easily see shares closing the year north of $300… good for a quick 20% gain.
Options investors who can stand the volatility and speculation could see even larger gains.
This one is a buy.
Send us the tickers you want us to analyze with the Liberty Indicator with an email to firstname.lastname@example.org.
Andy Snyder is the founder of Manward Press, the nation’s premier source of unfiltered, unorthodox views on money and what it means for a free society. An American author, investor and serial entrepreneur, Andy cut his teeth at an esteemed financial firm with nearly $100 billion in assets under management. Andy and his ideas have been featured on Fox News, on countless radio stations, and in numerous print and online outlets. He’s been a keynote speaker and panelist at events all over the world, from four-star ballrooms to Senate hearing rooms. Today, Andy’s dissident thoughts on life, liberty and investing can be found in his popular daily newsletter, Manward Financial Digest.