Woolworths LTD Stock Analysis: Unpacking the Reverse Inverted C&
Woolworths LTD Stock Analysis: Unpacking the Reverse Inverted C&H Formation
Woolworths LTD
1. Price Formation: The price has broken from a Reverse Inverted C&H price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a positive sign indicating short-term bearish momentum.
3. 200-day Moving Average is above the Price.
4. Thus, Mas 7<21<200
5. Relative Strength Index (RSI): The RSI is <than 50, indicating bearish momentum and potential further upward movement.
6. Price Target: 5800 Zcents
Woolworths LTD
1. Price Formation: The price has broken from a Reverse Inverted C&H price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a positive sign indicating short-term bearish momentum.
3. 200-day Moving Average is above the Price.
4. Thus, Mas 7<21<200
5. Relative Strength Index (RSI): The RSI is <than 50, indicating bearish momentum and potential further upward movement.
6. Price Target: 5800 Zcents