Wait for Confirmation.
Taking a brief look at WHL, it appears that the price is holding support at slightly above R52.00.
The MACD is showing imminent signs of a Bullish crossover, after a short retracement.
I would ultimately like to see a close above R54.65 for confirmation of what already looks to be a Short/Mid term Bullish trend.
A fall (close) below R52.00 would likely see further price depreciation back toward the recent low of R49.85.
* With Christmas around the corner, Woolies is a consumer favourite for gifts ranging from quality foods to branded clothing.
My point is that sentiment for Woolies brands during the festive season is likely to be high.
** Some other shares to consider would be Clicks & Shoprite (for their variety).
I'm happy to put some of these retailers in my "back pocket" and await Q1 2022 results.
The MACD is showing imminent signs of a Bullish crossover, after a short retracement.
I would ultimately like to see a close above R54.65 for confirmation of what already looks to be a Short/Mid term Bullish trend.
A fall (close) below R52.00 would likely see further price depreciation back toward the recent low of R49.85.
* With Christmas around the corner, Woolies is a consumer favourite for gifts ranging from quality foods to branded clothing.
My point is that sentiment for Woolies brands during the festive season is likely to be high.
** Some other shares to consider would be Clicks & Shoprite (for their variety).
I'm happy to put some of these retailers in my "back pocket" and await Q1 2022 results.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.