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
*** Key Hidden Levels - Earnings Support is a subscription package that is available at the Marketplace Add-On's in the Indicators Box. Monthly and Annual Subscriptions are available.
Comments
elcololp
⋅
Hi! what do you think now? Time to take position?
timwest
⋅
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.
IvanLabrie
⋅
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)
A-shot
⋅
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
A-shot
⋅
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
timwest
⋅
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.
A-shot
⋅
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:)