timwest
Long

Whole Foods Mkt - WFM - Daily, Basing and above "Key Hidden..."

NASDAQ:WFM   WFM
421 7 8
Note how well WFM             moves around to the "key hidden levels" provided by earnings . I labeled a number of key tests with red circles to show you trade setups.

Note how well WFM             has held its base price near $36 on the recent earnings release and how it has climbed back on top of key support here above $38. It looks like WFM             can lift to the $43 resistance area from the May gap-down.

I included a link to another similar stock in the sector that I outlined awhile back, The Fresh Market ( TFM             ). The valuation of WFM             has come down a long way and by nature I look picking around in "fallen angels" stocks. This one could be a decent return for the lower risk opportunity that it is now that the hype has come out of the stock.

Tim 38.66 last @ 2:29PM EST 8/14/2014


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Hi! what do you think now? Time to take position?
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timwest PRO elcololp
I like WFM and TFM. It would be better to see WFM above the key hidden level (green line) to show that it is accumulated completely, but I like it. It is cheap.
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It does look like someone's accumulating...although I see no obvious vol activity to support my claim (other than the ones you mention in the post)
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2use IvanLabrie
It is also a possible best place to buy. Given 36 is a strong support and accumulation keeps it above, then it is quite close. I would sell it below 35-35.5
+1 Reply
Would be great to see any ideas on TFM as well! it was down recently to the same low it was when you began the coverage
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I like TFM also! I'm glad you remember! Nice little base breakout today.

I don't want to overproduce charts though. I don't want to be like some people and produce endless streams of charts. I want to be able to follow up on them and comment on them.
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2use timwest
I agree on the endless streams of charts. that spams my inbox with a lot of uncertain charts - so better indeed have something more solid out, but that stock was a great call and did get attention yesterday:)
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