VillageTraderZA

A nice Ascending triangle on Woolies

Long
JSE:WHL   WOOLWORTHS HOLDINGS LTD

No position in the market.

Woolies seems to have turned the tide. The stock has been moving into higher boxes, and the 30w EMA has crossed the 60w EMA . The stock is looking good to break to the R47 - R57 box.
Comment: Trade Summary 11 April 2021
Entry: R49.13
Stop loss: R44.61
Risk per share: -R4.52
Quantity: 28
Risk ZAR: -R126.56
Risk: -1.56%%


Woolies broke quite a significant downtrend resistance level as it was breaking into a higher box. We had a nice doji candle on the weekly chart 3 weeks ago. I’m looking for a close above the 5200c which would be a 52 week high close. I’ll to the position and trail my stop loss to below the doji candle to around 4600c

Comments

Super
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@Henry_Ross, Thank you
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