#WHL Woolies looking constructive #JSE

Constructive engulfing candle over prior 6 days closes on Woolies today. Old resistance R64.60 acting as support. Still enclosed in a channel which needs a break to the upside. 61.8 fib from May to Aug swing low and high has also held. A break out this channel and a close above the 200dma at approx R68.50 will really give the bulls something to really get excited above. Early signs are there to watch for a larger move higher but not quite out the woods yet. R65.00 and R61.50 are good entry levels to stagger in if not in already.

Comment:

Broken outside of its channel and now resting the breakout. Upgraded today by CITI - still happy to be long here

Comment:

Still holding.. patience