- WHL has had a strong rally from thr R58 swing low and has reached swing high last seen in February this year..,
- Momentum seems to be slowing and price is tested the rising 20ema.
- Failure to take back the highs could see a fade to the 200dma
A rising wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the...
M Formation formed on Woolies.
Broke below the trendline and the signs were all bearish.
21>7
Price >200
Target R64.00 which it hit.
But now it looks like there is upside to come due to SMC.
SMC (Smart Money Concepts)
First we look for LOL (Levels Of Liquidity).
This is where there is strong volume of buying or selling from the big boys.
We can see three...
Woolies has been in a strong uptrend but recently has come against the following factors:
1. Time - it has been 26 weeks since it began an uptrend, quite long basing on history.
2. It has a building negative divergence on RSI14 (not shown here).
3. It is forming a swing high on daily & weekly time frame.
4. As price rose, volume decreased indicating there might...
JSE:WHL broke below another distribution level. Overall, JSE retailers are under pressure for various reasons; load-shedding and some justt poor managemenent decisions.
How low can it go? Note that JSE:CLS and JSE:MRP are also weak.
JSE:WHL just sliced below the distribution level. Most retailers are weak, technically, and nowhere near buy zones. Whatever they're citing as the cause of this, there's no justification for a long position.
M Formation formed on Woolies along with bearish indicators.
The target was hit at R64.00.
Now we are seeing Sell side liquidity where smart money is coming in sweeping all the selling side (buying into their orders) which could push the price up.
We can expect chop with upside in the next few days but no real signal has been given for a buy.
Will wait for the...
WHL has retraced nicely into the R66.00 mark which is major support line that if holds can see prices slowly start moving higher again,
however if this level fails the next support lower down is the R62.50 level
M Formation formed on Woolies,
The price broke below and all systems go with the Bearish Engulfing candle.
21>7
Price >200
Target R64.00
interesting that the target is to the 200 MA. This means, the price has rallied at such a high inclination, that the price now wants to approach equilibrium
It's all we need for a trade.
ABOUT
Woolworths South Africa is a...
After the trendline breakout , price broke down below 7585 minor support where today we observed a rejection to break the newly formed minor resistance (Above 7585). Price predicted to drop towards 7300 level.
Price in momentum in a bull direction, previous candlestick also confirming momentum, you can place a buy or long position at 7650, first take profit at 8320 and second take profit at 9065
The stock broke the downtrend resistance but remained a high risk as it was still completing its base patter Head and Shoulder or Cup and handle. Take you pick. The stock looking ready for a breakout.
A great Risk: Reward trade
A bullish flag formed on JSE:WHL . The breakout occurred with yesterday's strong upward momentum. If it breaks the levels formed yesterday, we will enter a long position. Target level is at 7280 which hasn't been reached since 2017. Let's see how this one pans out.
Forming a bull flag and has bounced off 50DMA. Expect a relatively strong move should this pattern follow through and we get a bullish break to the upside.
With all the downside, I am hoping Woolies at least breaks up and out of the Falling Wedge so we can hedge our short position and go long this retail giant. What do you think?
