WHL trade ideas
Might we see a bit of a recovery here for Woolies?WHL looking good here for a recovery, but never know with this one.
WHL 1hr near top of trading rangeWoolworths hourly chart is nearing the top of its trading range (that coincides with a previous high at 32.80) and currently overbought
WHL - Bottom TriangleWe may derive the following from the Daily WHL chart:
1. Price has dropped significantly over the past few months.
2. It appears that price has potentially bottomed out.
3. A triangle has formed, with the possibility of pushing higher.
4. A break up may be a buy. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
WHL - Potential WedgeWe may derive the following from the Daily WHL chart:
1. Price has ended off the day with a bullish candle.
2. A potential wedge pattern has been formed.
3. It is however, pre-mature to buy. Wait for an opportunity to present itself first - being a solid break and retest of the wedge.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
$JSE-WHLJSE:WHL
Broke from long consolidation few days ago, did back test yesterday and today and moved strongly.
Resistance is in 5300 area, if it gets cleared next target will be gap close in 5700-5800 area.
Hopefully Woolies will finally break out of this area #WHL"Woolworths ($JSEWHL) - HSBC raised the recommendation on Woolworths Holdings Ltd/South Africa to 'Buy' from
'Hold'. PT set to R60."
Double bottom on WooliesBullish double bottom technical chart pattern developing on the Woolies daily chart. A close above the R50 neckline is what’s needed to confirm the pattern.
Might we see a Woolies recovery?Factors looking good for a $WHL recovery, if only the country can stop falling apart for a minute.
Hoping for swing up in Woolies #WHLFell to big 5000 levels, hoping it will act as resistance for swing up.
Macd/Stoch/RSI looking good.
Risky in the current market.
WHL - Failed UptrendWe may derive the following from the Weekly WHL chart:
1. Price made a good break out of the major downtrend.
2. However, the new uptrend failed to close above 6000.
3. At this point, price may find support at the current 5000 level.
4. Wait for an opportunity to present itself. And as always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
Woolworths share price falling sharplyAfter a decent run in the woolworths $JSEWHL share price since May '19, the share price has fallen nearly 18% since its recent high in early November. The more recent catalyst for the fall was the trading update on 27th of Nov. Woolies food continues to do well but the rest of the business and Australia, weighing in on sentiment. Look for support around the R49.90 level. The stock is now in 'oversold territory', with an RSI of less than 30
$JSEWHL DAILYWoolworths has gone down back into the range between R56.12 and R51.03. First target will be R53 and further will be the bottom of the range around R51
WHL - Uptrend Still IntactWe may derive the following from the Daily WHL chart:
1. Price is yet to solidly break through the 5850 level, however the uptrend is still intact.
2. A close above at least 6000 may result in a strong bull run - which is still anticipated.
3. Monitor price action and be patient before trading.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
WHL - Upside Imminent?We may derive the following from the Weekly WHL chart:
1. Price has been testing the weekly horizontal resistance a few times.
2. A close above may result in a strong bull run. Be prepared.
3. Monitor price action and be patient before trading.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
Could this finally be the turn for Woolies?Stable trading update, helping Woolies back to an exciting resistance level.
Actual Trading Update:
Woolworths says 53-week sales growth 5.1% in constant currency
Woolworths says 53-week total group sales growth 5.9%
Woolworths says Australia trading conditions remain challenging
(Source: Bloomberg)
A break and close above the R50.80 levels could see WHL target the R57 levels, where WHL traded earlier this year. Support currently can be found at the 200-day moving average R49.50. The consensus target price (according to Thomson Reuters) for WHL is currently R52.97.
