Stable trading update, helping Woolies back to an exciting resistance level.
Actual Trading Update:
Woolworths says 53-week sales growth 5.1% in constant currency
Woolworths says 53-week total group sales growth 5.9%
Woolworths says Australia trading conditions remain challenging
(Source: Bloomberg)
A break and close above the R50.80 levels could see WHL target the R57 levels, where WHL traded earlier this year. Support currently can be found at the 200-day moving average R49.50. The consensus target price (according to Thomson Reuters) for WHL is currently R52.97.
Actual Trading Update:
Woolworths says 53-week sales growth 5.1% in constant currency
Woolworths says 53-week total group sales growth 5.9%
Woolworths says Australia trading conditions remain challenging
(Source: Bloomberg)
A break and close above the R50.80 levels could see WHL target the R57 levels, where WHL traded earlier this year. Support currently can be found at the 200-day moving average R49.50. The consensus target price (according to Thomson Reuters) for WHL is currently R52.97.
Trade closed: target reached