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Woolworths Holdings Ltd: Could Be Recovering?
8 February 2018 | Moxima Gama
 


BOTTOM LINE: WHL is recovering after breaching its support trend-line dated back to 2011

(Click image to enlarge)image1

Trade WHL From 0.3%

Possible scenario:

Currently teetering on the second resistance trend-line, a move through 6,785cps could see WHL retest the major resistance trend-line of its primary bear trend. Note that further upside may be limited by that trendline - if not, a positive breakout would be confirmed above 7,680cps.

A neutral long could be initiated through 6,785cps, so revise the position once the major trendline is tested and then increase longs above 7,680cps on continued upside; gains to 9,650cps could then follow.

Alternative scenario:

A reversal through 5,855cps would extend the current bear trend, so in that case, go short below 5,485cps, with the target situated at 4,300cps.

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Moxima

Moxima Gama
Technical Analyst, Sharenet

Moxima has a B.Comm Finance from the University of South Africa and is a certified Chartered Market Technician Level 2, currently completing Level 3. She has been a technical analyst for 10 years, working for BJM, Noah Financial Innovation and for Standard Bank as part of the Research Team in the Treasury Division of CIB. She now runs her own business, The Money Hub, and consults for Sharenet. Moxima has been rated as one of the top 5 technical analysts in South Africa and outperformed the market during the recent recession. She regularly makes an appearance as a guest on CNBC Africa and writes often for Finweek and Sharenet’s Views.

Read an interview with Moxima, or discover Moxima’s trading insights via Sharenet’s Technical Analysis Newsletter.


Disclaimer:
The information contained in this article is for informational purposes only and must not be regarded as a prospectus for any security, financial product or transaction. It is neither to be construed as financial advice nor to be regarded as a definitive analysis of any financial issue. Investors should consider this research/article as only a single factor in making their investment decision. We recommend you consult a financial planner/advisor to take into account your particular investment objectives, financial situation and individual needs.

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