Stock of the day: Wayfair

In today’s Stock of the Day, let’s analyze Wayfair, which continues to struggle after hitting new long-term lows last week. The stock is under heavy selling pressure, and the technical outlook remains decisively bearish.

Wayfair recently broke below a key horizontal support, slightly below $39.50, and also failed to break above its declining dynamic resistance, marked with a green trendline. The price has now slipped to the downside of this formation, signaling further weakness and a strong bearish outlook.

In the current bearish scenario, the next downside target lies at the yellow horizontal support, slightly below $30, which previously acted as a key level during the lows of late 2022 and early 2023.

On the other hand, a price recovery and daily close above the green support—or ideally, a weekly close above the green resistance—would suggest a bullish reversal, signaling a buying opportunity. However, given the current market momentum, the chances of such a recovery remain limited for now.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-wayfair-3