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Woolies

TARGET on Woolies hit at R64.00 next target R70.93 - SMC M Formation formed on Woolies. Broke below the trendline and the signs were all bearish. 21>7 Price >200 Target R64.00 which it hit. But now it looks like there is upside to come due to SMC. SMC (Smart Money Concepts) First we look for LOL (Levels Of Liquidity). This is where there is strong volume of buying or selling from the big boys. We can see three LOLs. 1. 200MA -which the price is now above and could stay above 2. Previous support level 3. Hammer to the upside and Change of Character (reversal to uptrend) New target with SMC is R70.93 The probability of the trade idea is low because we are fighting the greater trend that is down, but it's worth looking at with SMC.
JSE:WHLLong
by Timonrosso
Woolies showing a sell signal with an interesting observationM Formation formed on Woolies, The price broke below and all systems go with the Bearish Engulfing candle. 21>7 Price >200 Target R64.00 interesting that the target is to the 200 MA. This means, the price has rallied at such a high inclination, that the price now wants to approach equilibrium It's all we need for a trade. ABOUT Woolworths South Africa is a subsidiary of Woolworths Holdings Limited, a South African retail company founded in 1931. Woolworths South Africa operates in the food, clothing, and general merchandise retail sectors. Woolworths South Africa is known for its high-quality food products, including fresh produce, organic products, and artisanal bread. Woolworths South Africa has a loyalty program called MySchool MyVillage MyPlanet, which allows customers to support local schools and charities by shopping at Woolworths. ABOUT DAVID JONES In 2014, Woolworths South Africa acquired David Jones Limited for AUD 2.1 billion, with the aim of expanding its presence in the Australian retail market. The acquisition was seen as a strategic move for Woolworths South Africa, as it provided a platform for the company to expand its retail operations beyond South Africa and into the Asia-Pacific region. Since acquiring David Jones Limited, Woolworths South Africa has invested heavily in the brand, renovating stores, expanding product lines, and improving customer service. However, the acquisition has not been without its challenges, as the Australian retail market has been highly competitive and consumer spending has been affected by economic factors such as wage growth and housing prices. Despite these challenges, Woolworths South Africa remains committed to its investment in David Jones Limited and sees the brand as an important part of its long-term growth strategy.
JSE:WHLShort
by Timonrosso
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