NASDAQ:WFM WHOLE FOODS MKT INC
As markets rally Whole foods fails to impress, the looks heavy.
1) 50 and 200 days crossover(so called death cross)
2)A potential(not yet completed) Major top pattern
3)The price settles below the 200-days and 50-day .
A retest of the averages and the short term descending Resistance may provide a new opportunity to short, although i would like to see some , i.e at that area. Looking for a new wave towards 50.00 major long term support. On a break below 50.00, the main pattern would be confirmed, strong levels preferred on a breakout, that may clear the way towards a longer term target near 40.65 support.
Note: If price fails to hold below the and head to break 55.00 level again, that could minimize the chances of completing the .
If you find my work useful, support by following at:
My trading channel https://telegram.me/technician_forex_trades