ASX - WES: 30 APR, 2024© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M
The near-term outlook suggests WES may be ready to push higher.
Invalidation point: 63.81
WES/N trade ideas
WES - SELLWesfarmers have reach all time highs and due a correction
- RSI divergence indicating SELL
- Buy @ $58 - $60 range
- This would be a high probability trade to gain for Short Term Trade
(ASX): WES - WESFARMERS LIMITED || March 12, 2024(XDJ): CONSUMER DISCRETIONARY
(ASX): WES - WESFARMERS LIMITED || March 12, 2024
Master of Elliott Wave Analysis: Shane Hua (CEWA-M).
(Left chart): The broader context (1D chart) reveals that a previous wave 2-red has concluded, touching a low at 46.64, initiating wave 3-red to propel WES further upward. Upon closer examination of wave 3, I've counted waves ((i)) and ((ii))-green to have ended, with the low at 49.57 marking wave ((iii))-green of wave 3-red, indicating the onset of the third wave of the third wave. Now, wave (i) and wave (ii)-purple have ended, and wave (iii)-purple is currently unfolding.
(Right chart): The short-term outlook (4H chart) describes clear and detailed subdivisions. It appears that wave iv-blue has completed at the low of 64.59, and wave v-blue is now unfolding. This outlook will be maintained as long as the price remains above the low at 64.59. If this forecast is accurate, I would anticipate seeing wave v continue to rise higher towards the immediate target at 68.99, possibly even further, such as at 71.75 as the next price target.
(Alternative wave count for short-term outlook): Indicates that wave iv-blue has not yet concluded, having only completed waves ((a))-red and ((b))-red at a smaller degree. In this scenario, wave ((c))-red will continue to decline slightly before wave v-blue resumes its expected upward movement.
WES Target Reachedits like a roller coaster.
its goes up and goes down.
Good Earning makes the difference.
Go WES , Target $60 WES is good stock. Trending up. All 5/10/20/60 MAs are in line to build the Wave. MACD is above 0. A strong and positive wave which hopefully will bring Santa to US.
Holding Value area possible fallWesfarmers broke the trend so if back at $49 sellers may push it down, i'm thinking to buy it at $46
Breakout to SellThe stock just completed and broke out of wave 4 ending diagonal. I'm waiting for a break and retest of a potential bearish flag.
Wesfarmers ,,, PullbackUptrend
Pullback has been completed after this good bullish candle and everything is ready for a good rally toward next target.
I suppose around 48 can be a good SL for it.
Wesfarmer AustraliaSSI Live Trading Series
Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's
Focus: Worldwide
By Sun Storm Investment Research & NexGen Wealth Management Service
A Profit & Solutions Strategy & Research
Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures |
USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India
Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
#debadipb #profitsolutions
Wesfarmers - revised idea for positional longA closing above 47.75 will give a breakout above inverse head and shoulder neckline, which opens up pattern targets of 54.
Keep a stop loss below 45.80 on daily closing basis.
simple comparison of ASX:WES (Wesfarmers) against major indices.simple comparison of ASX:WES (Wesfarmers) against major indices.
comparison of ASX200, S&P500 and WES over 30 years.Stepping back to look at a long term chart of the ASX200, S&P500 and ASX.WES (Wesfarmers) over 30 years.
It's very telling seeing the higher % gains in the US indice over the ASX indice.
More telling is seeing ASX.WES outperform the indices due to significant reform and expansion of the company via acquisitions and growth.
Wesfarmers wave workings (learning)Trying to self teach Elliot pattern using Fibonacci l. Any help, criticism and tips are appreciated thank you.
WES Buyers lurking?WES has buyers lurking in the shadows, each one a little higher. However we haven’t really seen any push through supply so far.
Possibly this entry is a week or two too early, like everything else. buy at 59.25 s/l 58.10
No significant highs to impede, except 61.30.
Let’s see what January holds.
WES @ 16 NOV 2021Text me if you have any questions/comments for me.
-----
WES
- Previous analysis was done on 1 Sep (red arrow) -> suggested waiting for a series of HHs and HLs
- Since then, the stock tested the $54 support and has successfully broken through the short- and mid-term resistances
- HHs and HLs are starting to form, and this is good
- The stock is testing the $60 psychological resistance at the moment and a successful breakout looks to be around $61
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting a successful breakout of the $60 psychological resistance before plotting entry
WES Bullish IdeaVerdict: Long
Reasons: Trendline + Support line + Candlestick pattern + RSI oversold
Alternatively we are headed down to next level.
WES @ 1 SEP 2021WES
- Previous analysis was done on 30 Aug -> suggested to wait for price recovery above the short-term resistance before any entry
- I also mentioned that any further drop in price will constitute a Structure Break
- Stock is currently trading at the 58 support levels
- Traders should execute their Stops once certain pre-determined prices are triggered
- Strategy-to-buy (DYOR) – Suggest waiting for a series of Higher Highs (HHs) and Higher Lows (HLs) to form first
WES @ 30 Aug 2021WES
- Previous analysis was done last week -> suggested to wait for price recovery to 66 levels before any entry
- Price did not recover but instead continues to drop and break the mid-term support
- Any further drop in price will constitute a Structure Break
- Strategy-to-buy (DYOR) – Suggest waiting for price to recover above the short-term resistance
Australias Wesfarmers Looking Very Oversold On EarningsWES has had a nice steady run this year but has had a pretty good pullback to a support area on earnings.
Be worth keeping an eye on for a bounce from here.
WES Long after breaking out of consolidationEntry: 56.50
Stop loss: 55.19
Went long after it broke out of its previous high after some consolidation with good volume.
3 SMAs are trending orderly.
WES.ASX_Range Breakout Trade_LongENTRY: 15.48
SL: 54.90
TP1: 57.63
TP2: 59.30
- ADX<20
- RSI>50, RSI<70
- Daily RS -ve
- Daily FFI +ve
- Daily MACD +ve
- Weekly RS +ve
- Weekly FFI +ve
- Weekly MACD -ve
- Breakout with high volume above previous high and HVN, but prefer a better closing
