Wayfair (NYSE:W) is an home furnishing and décor website operator. The stock peaked out on March 21, 2019 at $173.71 a share. Since that high pivot, the shares have fallen sharply lower. Currently, Wayfair is trading at $121.04 a share. Unfortunately, the stock is in a weak technical position as it trades below its 50-week moving average. Traders and investor must now look lower for solid chart.
Support
The next major support level for W should be around $108.50, which is where the 100-week moving average is located. It is also a level where the stock broke out in late January 2019. This level should be defended by the markets when initially retested.