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JSE-WHL

#WHL Woolies looking constructive #JSEConstructive 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 above. Early signs are there to watch for a larger move higher but not quite out the woods yet. R65.00 and R61.50 are good entry levels to stagger in if not in already.
JSE:WHLLong
by MarcoOlevano
Woolworths, something to think about. 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 are breaking out at the moment we notice they have run a fair bit so far and a lot of these breakouts may be in the over brought areas. I like to trade breakouts that have been building a base under resistance for a few days as indicated on the chart. At the moment if you missed breakouts you can look for retests of the original breakout in the coming days to enter.
JSE:WHL
by Danerutherford
Woolies ready to move?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. Always use a stop-loss and manage risk. 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. Always use a stop-loss and manage risk.
JSE:WHLLong
by TradingMzansi