WHL trade ideas
Woolworths (WHL) - Pending Buy/LongYear to date, WHL has traded in a downward trend with the price now nearing the lower boundary of a channel that stretches back to November 2015. A analysis of the volume flows suggest that while price is trending lower, buyers are using the opportunity to close accumulate share. Yesterday we saw the share closed at 4400c, however there may be lower print before the next ‘swing’ higher. I’m looking for a print below 4280/90c (if it trades here) as a low-risk entry for a move back near the mid-point or even top of the channel. Should the anticipated levels not emerge, I would consider the idea invalid.
Is $JSEWHL really going to zero?This is just one of those graphs that don't really need any comments...
$JSE-WHLJSE:WHL
Trading in well defined down channel last few years.
Currently is at the bottom of the channel and today is making nice engulfing bar so far. Currently up 5%
If you like setups like this good place to go long with SL bellow yesterday LOD.
Target over long run can be other side of the channel, first target around 5000.
Woolworths Holdings Ltd (WHL) - Short Term Trade IdeaWoolworths has come under pressure as concerns over it's Australian operations mount. In addition, board resignations, sluggish results and a dim outlook seen this once 'market darling' experience continuous selling pressure. In the short term, the share is down from 5800c to just below 4500c. Technically, the Momentum indicator is printing a bullish divergence while the Stochastic suggests a temporarily oversold level. In addition, the pullback has also seen the share make a deep re-test of the falling wedge extension. At current levels, the share appears oversold and offers an opportunity to take a buy/long position in anticipation of a short term rebound.
These are the trade levels:
Buy WHL at current levels (4433c) or better
Stop-loss: 4280c
Take Profit Target: 4760c (7.3% ungeared)
Caution advised to the bears Whilst WHL has lost its important R47 lateral support - I suspect we might see a slight pullback before next leg lower. I am not a buyer at these levels as the trend is clearly down. Waiting on the sidelines to get a better picture.
Re-test of previous support may give bears another opportunity Re-test of previous support may offer opportunity to add to short position. Full target of larger H&S still R47
H&S still in play Currently consolidation following steep sell off last week. Suspect we break lower, rectangle targets R48 and full H&S targets = R47.
$JSE-WHLJSE:WHL
Sideways consolidation inside small box after big drop few days ago.
This look as continuation pattern. Break bellow 4900 will open 4700 as first target and 4400/4500 area as second target
JSE: WHLA Kings Crown Pattern unfolding as we hope it will shoot up completing the \last leg up of the head and shoulder pattern and also paying attribute to the Quasimodo pattern.
WHL for possible Long positionJSE:WHL had a tough time last week with it's poor results, but it is lining up nicely for a recovery upwards.
Last week ended by it forming a bullish harami which is a strong reversal signal. This level is also a support/resistance level from the recent past which solidifies the signal.
If we were to enter a long position, I would wait for it to break into the gap formed last week at around the 5225 level with a target up at around 5465.
$JSEWHL Potentially in uptrendIf the last bottom was the final bottom, we could see WHL trending upwards for a long time
Larger timeframe almost retraced to the .618 fib level
Latest uptrend saw 5 waves up, indicating pattern reversal
Currently, I believe we are in wave C of the retracement, meaning we can retrace +-10% to reach .618 fib level.
Keeping a close eye on this one
Woolworths Holdings: Pending Bear Flag BreakdownA quick observation on WHL. Despite better than expected retail sales in SA today, WHL is printing a bearish flag formation as well as under-performing it's peer group. A breakdown of the flag targets 5090c.
JSE:WHL
WHL...will we see a bullish break following trade updateWoolworth's once a defensive play on the higher SA LSM, failed to hold there ground following the acquisition of David Jones....
Given the various write-downs on the David Jones division, not to mention the various changes to management, the share price declined and found support around the R 48.00 handle, and most recently, found some legs to set an area of consolidation around the R 52.00-56.00 levels.
Next week (14th Jan) the stock reports first half earnings with the market expectations c. R 2.30 (down -9.00% to the comparable previous period).
I'm of the view that anything remotely inline or better could possibly result in a break above the resistance recorded at R 58.50 level!
With FY earnings estimated at R 3.64 this puts the stock on a forward PE of 15x earnings ...
Comparing other Food and Apparel retailers
Not really that expensive compared to a blend of MRP(clothing) trading at x21 and a SHP (food) trading at x19.
WOOLWORTHS ; JSEThe right shoulder of the Head And Shoulder pattern has formed a triangle as consolidating, the triangle is now broken out, we can either wait for the retest and enter on the retest or we can enter at the breakout of the neckline at the area around 5845 and aim to take profits at the most recent previous high/swing high around 6557.
JSEWHLJSE:WHL
Trading in wide down slopping channel. Currently making bullish flag. Break to the upside from flag and target around top of the channel will open.
