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WESFARMERS LIMITED

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WES trade ideas

WES | Price Discovery | Key Level | 21 EMA Visual Guide Today's analysis – WES – Consolidating below ATH resistance as the 21EMA coils price into its APEX. Points to consider: - Strong trend - Key level (apex) - Price discovery (blue-sky breakout) - 21 EMA visual guide - Oscillators above 50 WES trading in a clean and strong uptrend finding resistance upon retest of its all-time high. Price is trading at a key level as support (21 EMA) and resistance converge, a break in either direction is imminent. A rejection at the resistance level, price is likely to retrace to daily support. Price breaking bullish will induce new all-time highs for WES as it enters price discovery mode. Further price development will allow the 21 EMA to act as a visual guide assisting to determine the immediate direction of the market. Price trading above the EMA perceived bullish and below considered bearish. RSI and stochastics trading above 50 validates strength and momentum in the immediate market; oscillators need to range above 50 to maintain the bullish bias. Overall, in my opinion, a successful S/R flip retest of the current resistance level validates a long trade, utilising the 21 EMA to assist in trade management and defining risk. If you’ve read this far - thank you for following my work! And as always, Focus on you, and the money will too!
ASX:WESLong
by Kudiiee
$WES - WESFARMERS - Interesting TA area. Might be an interesting conservative play. My feeling is whenever I walk into a Bunnings, Officeworks and KMart they are always busy... Might be at a good area TA wise, missing volume confirmation though. Demand bias is there with 691 buyers for 307,733 units vs 441 sellers for 244,803 units. Wesfarmers Limited is engaged in various business operations, such as supermarkets, liquor, hotels and convenience stores; home improvement; office supplies, and an industrials division with businesses in chemicals, energy and fertilizers, industrial and safety products and coal. The Company's segments include Home Improvement; Department Stores; Office Works; Industrials, which includes Resources, WIS and WesCEF, and Other. Bunnings is a retailer of home improvement and outdoor living products in Australia and New Zealand. Kmart is a retailer with approximately 210 stores throughout Australia and New Zealand. Target operates a network of over 300 stores and sells a range of products for the contemporary family, including apparel, homewares and general merchandise. Officeworks is a retailer and supplier of office products and solutions for home, business and education.
ASX:WESLong
by zAngus
AUS200 WES D ShortWES is ex dividend Mon 20 Feb by $1.03 so $43.09 - $1.03 := $42+/-. Allowing for slippage, it could trade down to $41.85 Monday before attempting to rally back to support at $42. But over the next few days I believe it will drift lower towards old resistance now support at $41.50 There is also that break away body gap at $40.98-41.18 which needs to fill. The keys will be XJO and AUS200 Futures prices and the bears. So my thoughts are to stay short until I get a candle(s) or indicator(s) or gut feel its time to close and reverse. I will continue to post on this chart and others (STO, Oil, Banks, reader interest etc) ... for just my 2c worth
ASX:WESShort
by Oh_If_Only