$WMG (Warner Music Group) – Warner Music Next Mover If 31 Holds

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Updated: 30 June 2020

$WMG (Warner Music Group) is a media company that IPOed at the beginning of June and now its setting up for a potential move higher. Some traders considered it lower yesterday on the descending trend-line break but its still constructive so you can find an entry in the 30.50-31.20 zone if you see a pull-back. The stops are in the 30.00 zone under the ascending trend-line in orange. You also have 50% fibo and a major narrowing triangle that is building momentum. Watch the open and enter on 30min charts.

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