Trade Idea: WES.ASX – VCP Breakout Play (Buy Setup)🔹 Entry:
✅ Bought @ $85.45
📍 VCP-style setup with tight consolidation above 21EMA/50MA
📈 Early signs of breakout with volume confirmation
🔹 Stop Loss:
🚨 Initial Stop @ $81.56 (Below supertrend support)
⚖️ Risk defined at ~4.6% from entry
🔹 Target Zones:
🎯 T1: $89.30 (1R)
🎯 T2: $91.80–92.50 (2R zone
0.84 USD
1.89 B USD
29.52 B USD
About Wesfarmers Limited
Sector
Industry
CEO
Robert Scott
Website
Headquarters
Perth
Founded
1981
ISIN
US9508403063
FIGI
BBG000JLLQZ3
Wesfarmers Ltd. engages in the provision of fresh food, groceries, general merchandise, liquor, fuel, and financial services. It operates through the following segments: Bunnings; Kmart Group; Chemicals, Energy, and Fertilisers (WesCEF); Officeworks; Industrial and Safety; Health; Catch; and Other. The Bunnings segment consists of retailers of building materials and home and garden improvement products and servicing households and commercial customers including builders, trades, and businesses. The Kmart Group segment comprises of Kmart and Target which are retailers of apparel and general merchandise, including toys, leisure, entertainment, home, and consumable; and Catch which is an online retailer offering branded products on a first-party basis and a third-party online marketplace. The WesCEF segment refers to manufacturer and marketer of chemicals for industry, mining, mineral processing, broadacre and horticultural fertilisers, marketer and distributor of LPG and LNG; and manufacturer of wood-plastic composite decking and screening products. The Officeworks segment covers the retail and supply of office products and solutions for households, small-to-medium sized businesses, and the education sector. The Industrial and Safety segment supplies and distributes maintenance, repair, and operating products; manufactures and markets industrial gases and equipment; supplies, manufactures, and distributes workwear clothing in Australia and internationally. The Health segment wholesales and retails pharmaceutical, health, wellbeing, and beauty products. The Catch segment operates as an online retailer offering branded products on first-party basis and a third-party online marketplace. The Other segment includes food and stables retailing; forest products; property; investment banking; OneDigital, and Corporate. The company was founded in 1914 and is headquartered in Perth, Australia.
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(ASX): WES - WESFARMERS LIMITED || March 12, 2024(XDJ): CONSUMER DISCRETIONARY
(ASX): WES - WESFARMERS LIMITED || March 12, 2024
Master of Elliott Wave Analysis: Shane Hua (CEWA-M).
(Left chart): The broader context (1D chart) reveals that a previous wave 2-red has concluded, touching a low at 46.64, initiating wave 3-red to propel WES further up
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Summarizing what the indicators are suggesting.
Oscillators
Neutral
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Oscillators
Neutral
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Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
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Strong sellStrong buy
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Neutral
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Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.
A4ECBX
Wesfarmers Limited 3.277% 10-JUN-2032Yield to maturity
3.16%
Maturity date
Jun 10, 2032
XS239915418
Wesfarmers Limited 0.954% 21-OCT-2033Yield to maturity
—
Maturity date
Oct 21, 2033
See all WFAFY bonds