I have seen many TV ads for Wayfair (W) lately, but never looked at the chart until now. W has been trading up and down in wide swings since August (chart below).
Two things get my attention when I look at this chart, above, of W. The first item is that while prices are going up and down in $15 "runs," the On-Balance-Volume (OBV) line is flat. The OBV isn't going down, but it isn't showing accumulation -- to me that is a negative. (It is subtle, but it looks like the OBV line has been inching lower the past two months.) Second, the slope of the 50-day moving average has been weakening the past month or so. This tells me the trend of W is weakening.
In this longer-term weekly chart of W we have a little more data to work with (see the chart above). W is sitting right on its 40-week moving average. The OBV line is neutral on this timeframe and the momentum study has been weakening.
A weakening short-term chart and a less than robust weekly picture suggest that Wayfair could drift down below $30 in the weeks ahead.