Trading Analysis for Woolworths on the JSE: Woolworths (WHL) is set to announce their FY23 results on 30th August 2023, following a significant 35% rally since June 2023. However, Their recent trading update revealed that HEPS (Headline Earnings Per Share) fell below expectations, accompanied by negative concerns around load shedding. Currently, the price is...
Woolworths has reversed off its bottom channel of relative strength vs. Truworths. RSI and MACD relatively depressed and should start to turn up. With the current state of the economy I believe Woollies should be better placed to withstand the economic storm than Truworths which is predominantly more of a 'luxury' clothing retailer. I think Woolies Food component...
Constructive engulfing candle over prior 6 days closes on Woolies today. Old resistance R64.60 acting as support. Still enclosed in a channel which needs a break to the upside. 61.8 fib from May to Aug swing low and high has also held. A break out this channel and a close above the 200dma at approx R68.50 will really give the bulls something to really get excited...
With all the downside, I am hoping Woolies at least breaks up and out of the Falling Wedge so we can hedge our short position and go long this retail giant. What do you think?
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More educational than anything... Many people would've taken this breakout earlier in the day which ultimately came back down and didn't close above resistance. When swing trading breakouts I like to enter towards the end of the day which gives me a better understanding of how the market is acting and what the volume looks like. Also as with most JSE shares that...
$JSEWHL - A daily close above 3565 would trigger the long. We have both moving averages and a nice break. Note - Potential Golden cross.
I will be looking to buy. Crucial for price to stay above purple box in coming days, for order to remain valid. I can't be wrong on all 3 cloth trades...
Woolies seems to be holding well here, hopefully we can see it take a step higher. Disclaimer: The views provided herein do not constitute financial advice. Please feel free to comment, critique or add to my view, I welcome feedback, whether it agrees with my views or not. This idea is based on my strategy, please consider your own before using it in any way....
WHL looking good here for a recovery, but never know with this one.
Woolworths hourly chart is nearing the top of its trading range (that coincides with a previous high at 32.80) and currently overbought
"Woolworths ($JSEWHL) - HSBC raised the recommendation on Woolworths Holdings Ltd/South Africa to 'Buy' from 'Hold'. PT set to R60."
Factors looking good for a $WHL recovery, if only the country can stop falling apart for a minute.
Fell to big 5000 levels, hoping it will act as resistance for swing up. Macd/Stoch/RSI looking good. Risky in the current market.
Strange week for WHL to be making a comeback, but there we have it.
Nice break by $WHL in the upward channel, but will it reach the top in this choppy market?
JSE:WHL is in an upward channel but resistance from channel brought it down nicely. Hoping to reach bottom of the channel, hopefully might even break lower due to negative market factors.