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LD_Perspectives
Nov 17, 2021 7:14 PM

Update: Woolies 

JSE:WHL1D
WOOLWORTHS HOLDINGS LTDJSE

Description

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- Nasty fall on poor update and trading statement.

- We posted the idea on 29 October as the price back-tested the 200-day SMA, which was followed by a 7% rally to the highs.

- Price now back to entry zone.

- Massive volume however price closed in upper half of day's trading range.

-This is...a smash n grab market. 5-8%? Take your money and run

Original idea attached.
Trend AnalysisChart PatternsTechnical Indicators
Comments
unclecool787
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What do you think of a read that a H&S might be forming here?
LD_Perspectives
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@unclecool787, Agreed that the structure could unfold. Also on 200-day SMA now and gap around 4158c could act as a target. I believe there was a fundamental upgrade with a target of around R10 higher than current levels which could support the share in the short term however I will be keeping my eye on the price action as a guide.
unclecool787
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A smash & grab market wahahahahaha LOL that's excellent! :-)
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