In baseball, batters attempt to put the ball where the defenders aren’t positioned. In the equities market, it’s the opposite sentiment: they’re aiming for where the money will be. And that could be the driving force behind prescription glasses and contact lens provider Warby Parker (WRBY). It’s a cynical argument but WRBY stock represents a viable forward-looking narrative.
It’s an incredibly contrarian one as well. Currently, the Barchart Technical Opinion indicator rates WRBY stock as a 72% Strong Sell. The trend happens to be moving in the wrong direction. Last month, WRBY actually stood as a “40% Buy.” However, both current strength and direction indicators fell toward the negative side of the spectrum.
