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WHL

WOOLWORTHS HOLDINGS (WHL)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 testing a supply area, raising the possibility of a double top formation. This pattern suggests potential downward movement in the stock. Short Position: Target 1 (T1): 71.00 Target 2 (T2): 64.50
JSE:WHLShort
by MarketMeistersTrading
2
#PAIRtradeIDEA Long WHL vs. Short TRUWoolworths 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 should be the difference here into the next few weeks. In an inflationary and high interest rate environment, people still need to eat, they don't really need new or expensive clothes. On this fundamental basis and because I like the technicals I am looking to put on the trade as follows: Entry - 0.90 to 0.94 Stop loss - 0.84 Target 1 - 1.06, Target 2 - 1.12 If you manage to reach both targets with an average of 1.09 exit, We are looking at roughly 0.19 upside at a 0.90 entry for a risk of 0.06 which makes this a good 3:1 risk reward ratio Happy Trading <3
JSE:WHLLong
by MarcoOlevano
#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