WHLWHL has had a respectable short term advance, which has seen the rally into it's 50-day EMA. A 'first' re-test of a declining 50-day EMA is often an optimal level to reduce/sell.by techpers0
$JSEWHL - Woolworths: Double Top Neckline Breached!See link below for previous analysis. Price has breached the 5824 neckline. Now, there are two ways to interpret this pattern: 1- the tradition way; in this case this is a Double Top and the price target is 3600cps. 2- the Elliot Wave way; this is a flat and price can resume the uptrend. The only certainty is uncertainty; this is the why it is key to think in probabilities. I will sit on my hands and allow price to guide me.by Loyiso_BlaqueSoros_Mpeta0
WHl: bouncing from oversold territoryA price action above 6000 supports a bullish trend direction. Furhter bullish confirmation for a break above 6200. The target price is set at 6400 (its 38.2% Fibonacci retracement level). The stop-loss is set at 5800 (its 0% retracement level). Testing major resistance. A bounce from oversold territory on the RSI supports a speculative long opportunity. Longby Peet_Serfontein1
$JSEWHL - Woolworths: Potential Double Top Still In PlaySee link below for previous analysis. Little has changed since the last analysis. The move from 8113 to 6347 unfolded in three waves. Buy the dip long positions should use 6347 as an invalidation and stop-loss level. The double top outlook is still valid and will only be invalidated by a break above 8113. by Loyiso_BlaqueSoros_Mpeta0
Our opinion on the current state of WHLThe sad fall of the Woolworths share (WHL) price was occasioned by the decision of previous CEO, Ian Moir, and his board to buy David Jones in Australia for AU$2,1bn which has now had R12bn written off its original purchase price of R20bn in 2014. The only aspect sustaining the Woolworths group was its food sales. Woollies announced on 14th January 2020 that they had appointed Roy Bagattini, from Levi Strauss, to replace Ian Moir as Group CEO with effect from 17th February 2020. Woolies fashion and clothing section was also not doing that well in a very difficult trading environment. In its results for the 53 weeks to 25th June 2023 the company reported turnover up 7% and headline earnings per share (HEPS) up 29%. The company said, "Turnover and concession sales from continuing operations (i.e. excluding David Jones) increased by 10.8% for the year and by 9.3% in comparable stores. Sales grew by 9.2% in the second half of the year ('H2' or 'half'). Online sales grew by 9.3%." On 31st October 2023 the company announced that it had acquired 93,45% of Absolute Pets for cash. Absolute Pets has over 150 stores throughout South Africa. In a report on the 20 weeks to 12th November 2023 the company reported turnover up 4,7% in constant currencies. The company said, "Group turnover and concession sales on a total basis (including the contribution of David Jones in the prior period, which is therefore non-comparable) decreased by 22.4% on the prior period." In a trading statement for the 26 weeks to 24th December 2023 the company estimated that HEPS from continuing operations would fall by between 5% and 10%. During the period, the company's turnover in constant currencies increased by 4,4%. The company said, "In South Africa, our business operations were further disrupted by higher levels of loadshedding, congestion at the ports, and the impact of Avian flu on the availability of key food product lines." We recommended that you consider Woolies shares when they broke up through its long-term downward trendline. This occurred on 4th May 2021 at a price of 4927c. It has since recovered to 6497c. The current P:E is around 12,62 and the share still appears to have upside potential.by PDSnetSA1
JSE:WHL painting bearish price action, set to slip lower.JSE's Woolworths Holdings Limited took a sharp nose dive in November 2015 from its all time highs of R108.00 and tumbled all the way to R24.00 where it found support in March 2020. Typical bullish short term bullish pullback trends lasted 6-8 months in that entire period. After price had found support it painted a steep rising channel which got capped off at around the R80.00 level and painted a double top, with the first top being in February 2023 and the 2nd one being in August 2023. When we look at the latest price action, price impulsively fell in wave 1 after painting the 2nd top and is currently caught in a corrective wave 2 bearish pennant pattern with the Daily & Weekly RSI at neutral levels above the smoothing average. A downward break of this pennant could signal wave 3 of the downward move, with its termination being around R47.00 past the double top neckline that's sitting at R58.00. A short term wave 4 pullback could be found around R47.00, potentially being the retest of the broken neckline before the stock plunges into wave 5 that could potentially terminate at around R30.00, representing an 88.6% fill of the steep rising channel. At these levels we can expect price to paint a correction that will either indicate a reversal of this entire downward move or its continuation in the higher wave degrees. Current sentiments: Strongly Bearish with invalidation being put on the table if the stock starts trading and holding well above R72.50. Shortby Source_Sailor3
Our opinion on the current state of WHLThe sad fall of the Woolworths share (WHL) price was occasioned by the decision of previous CEO, Ian Moir, and his board to buy David Jones in Australia for AU$2,1bn which has now had R12bn written off its original purchase price of R20bn in 2014. The only aspect sustaining the Woolworths group was its food sales. Woollies announced on 14th January 2020 that they had appointed Roy Bagattini, from Levi Strauss, to replace Ian Moir as Group CEO with effect from 17th February 2020. Woolies fashion and clothing section was also not doing that well in a very difficult trading environment. In its results for the 53 weeks to 25th June 2023 the company reported turnover up 7% and headline earnings per share (HEPS) up 29%. The company said, "Turnover and concession sales from continuing operations (i.e. excluding David Jones) increased by 10.8% for the year and by 9.3% in comparable stores. Sales grew by 9.2% in the second half of the year ('H2' or 'half'). Online sales grew by 9.3%." On 31st October 2023 the company announced that it had acquired 93,45% of Absolute Pets for cash. Absolute Pets has over 150 stores throughout South Africa. In a report on the 20 weeks to 12th November 2023 the company reported turnover up 4,7% in constant currencies. The company said, "Group turnover and concession sales on a total basis (including the contribution of David Jones in the prior period, which is therefore non-comparable) decreased by 22.4% on the prior period". We recommended that you consider Woolies shares when they broke up through its long-term downward trendline. This occurred on 4th May 2021 at a price of 4927c. It has since recovered to 6952c. The current P:E is around 13,51 and the share still appears to have upside potential.by PDSnetSA1
Our opinion on the current state of WHLThe sad fall of the Woolworths share (WHL) price was occasioned by the decision of previous CEO, Ian Moir, and his board to buy David Jones in Australia for AU$2,1bn which has now had R12bn written off its original purchase price of R20bn in 2014. The only aspect sustaining the Woolworths group was its food sales. Woollies announced on 14th January 2020 that they had appointed Roy Bagattini, from Levi Strauss, to replace Ian Moir as Group CEO with effect from 17th February 2020. Woolies fashion and clothing section was also not doing that well in a very difficult trading environment. In regard to the recent civil unrest the company said, "Eleven Woolworths stores have been looted and severely damaged with nine of the eleven stores in KZN and two in Gauteng". In its results for the 53 weeks to 25th June 2023 the company reported turnover up 7% and headline earnings per share (HEPS) up 29%. The company said, "Turnover and concession sales from continuing operations (i.e. excluding David Jones) increased by 10.8% for the year and by 9.3% in comparable stores. Sales grew by 9.2% in the second half of the year ('H2' or 'half'). Online sales grew by 9.3%." On 31st October 2023 the company announced that it had acquired 93,45% of Absolute Pets for cash. Absolute Pets has over 150 stores throughout South Africa. We recommended that you consider Woolies shares when they broke up through its long-term downward trendline. This occurred on 4th May 2021 at a price of 4927c. It has since recovered to 6943c. The current P:E is around 13,49 and the share still appears to have upside potential.by PDSnetSA1
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): 64.50Shortby MarketMeistersTradingUpdated 221
$JSEWHL - Woolworths: Potential Double Top AlertWoolworths stock had a good run from March 2020 to Feb 2023, peaking at 8047cps. What followed was a strong correction to 5824 and a rally just above the previous peak to make a slight new high at 8113. This "twin peak" could potentially be a double top formation with a neckline at 5824 or a flat correction. With the stock trading in the middle of support (5824) and resistance (8100) I will maintain a neutral stance and look for buy opportunities around 5824. Implications: Double Top - break below 5824 confirms the pattern with a target price of 3535. Flat pattern - price can turn around below 5824 and rally up.by Loyiso_BlaqueSoros_Mpeta1
#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 <3Longby MarcoOlevano2
#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.Longby MarcoOlevanoUpdated 0
WHL: bullish crossoverThe share depicts an intriguing trading pattern. The defining level that stands out prominently is the 6700 mark. This price level seems to be a critical pivot point, distinguishing the trend direction for the share. 1. The 6700 Pivot Point: The price level of 6700 acts as a significant trend delineator. When the share price is above this mark, it indicates a bullish sentiment, and when below, it suggests a bearish sentiment. The recent price actions nearing this level suggest that the share is at a crucial juncture. 2. Fibonacci Retracement Levels: Several Fibonacci retracement levels are marked on the chart. The share seems to be testing the 50.0% level and has previously found support near the 61.8% level. 3. Target and Stop Levels: A bullish target is set at 7300, indicating an upside potential of +7.7%. On the flip side, a stop loss level is marked at 6500, translating to a downside risk of -4.2%. The win/loss ratio based on these levels is 1.8:1, which means the potential reward outweighs the risk. 4. Bullish Crossover in Momentum Indicators: The lower part of the chart depicts a momentum indicator showing a bullish crossover. This crossover, where the blue line surpasses the orange, indicates rising bullish momentum and can be a positive sign for the share in the near term. Conclusion: The share is at a critical level with the 6700 price point acting as a significant trend determinant. With the current momentum and the Fibonacci retracement levels in play, traders might consider taking positions based on these technical cues, always keeping in mind the predefined target and stop levels. Remains a risky trade. Longby Peet_Serfontein0
Nearing the buy zoneWith better than expected earning, about to hit long term support. Waiting a little longer to kiss that diagonal trend line and bullish divergence to buy. Hold your horses, we almost back in the buy zone.Longby shaunmegs0
Woolworths LTD Stock Analysis: Unpacking the Reverse Inverted C&Woolworths LTD Stock Analysis: Unpacking the Reverse Inverted C&H Formation Woolworths LTD 1. Price Formation: The price has broken from a Reverse Inverted C&H price formation on a daily chart. 2. Moving Averages: The 7-day moving average (MA) is below the 21-day MA, which is a positive sign indicating short-term bearish momentum. 3. 200-day Moving Average is above the Price. 4. Thus, Mas 7<21<200 5. Relative Strength Index (RSI): The RSI is <than 50, indicating bearish momentum and potential further upward movement. 6. Price Target: 5800 Zcents Shortby Sahle0
Almost back in the buy zone for Woolies on the @JSE_GroupAlmost back at support, no time like the present to start accumulating some Wollies shares. Traders you can set a tight stop loss. Investors, pull backs are the time to buy.Longby shaunmegs0
JSE's Woolworths showing potential continued bearishness.After reaching highs of R108.00 on 02 November 2015, "Woolies" took a dive and found support at R24.00 on 23 Mar 2020. The instrument has since painted a rising channel and buyers failed to take price higher than the R81.00 ~ R84.00 resistance zone, effectively painting a double top at resistance. Looking at the current price action, after painting a double top structure price closed strongly bearish at the 50 Week EMA (also strongly bearish below the 50 Day EMA on the daily time frame). Warning of continued bearishness can be taken if the instrument strongly closes and consolidates below R68.50, which will also be below the 50 Week MA. First targets to the downside will be R66.80, then R62.00 and finally R58.24 Below R58.24 Woolies may tumble to R30.00 ~ R24.00. Like, comment and follow if the above analysis was helpful.Shortby Source_Sailor5
Our opinion on the current state of WHLThe sad fall of the Woolworths share (WHL) price was occasioned by the decision of previous CEO, Ian Moir, and his board to buy David Jones in Australia for AU$2,1bn which has now had R12bn written off its original purchase price of R20bn in 2014. The only aspect sustaining the Woolworths group was its food sales. Woollies announced on 14th January 2020 that they had appointed Roy Bagattini, from Levi Strauss, to replace Ian Moir as Group CEO with effect from 17th February 2020. Woolies fashion and clothing section was also not doing that well in a very difficult trading environment. In regard to the recent civil unrest the company said, "Eleven Woolworths stores have been looted and severely damaged with nine of the eleven stores in KZN and two in Gauteng". In its results for the 53 weeks to 25th June 2023 the company reported turnover up 7% and headline earnings per share (HEPS) up 29%. The company said, "Turnover and concession sales from continuing operations (i.e. excluding David Jones) increased by 10.8% for the year and by 9.3% in comparable stores. Sales grew by 9.2% in the second half of the year ('H2' or 'half'). Online sales grew by 9.3%." We recommended that you consider the share when it broke up through its long-term downward trendline. This occurred on 4th May 2021 at a price of 4927c. It has since recovered to 7544c. The current P:E is around 14,36 and the share still appears to have upside potential.by PDSnetSA1
Our opinion on the current state of WHLThe sad fall of the Woolworths share (WHL) price was occasioned by the decision of previous CEO, Ian Moir, and his board to buy David Jones in Australia for AU$2,1bn which has now had R12bn written off its original purchase price of R20bn in 2014. The only aspect sustaining the Woolworths group was its food sales. Woollies announced on 14th January 2020 that they had appointed Roy Bagattini, from Levi Strauss, to replace Ian Moir as Group CEO with effect from 17th February 2020. Woolies fashion and clothing section was also not doing that well in a very difficult trading environment. In regard to the recent civil unrest the company said, "Eleven Woolworths stores have been looted and severely damaged with nine of the eleven stores in KZN and two in Gauteng". In its results for the 26 weeks to 25th December 2022 the company reported turnover up 15% and headline earnings per share (HEPS) up 75,1%. The company said, "Trade during this period is not directly comparable to that of last year due to the impact of government-imposed lockdowns in Australia in the prior period base. Group turnover and concession sales increased by 8.8% during the last six weeks of the half, which is directly comparable to that of the prior period, underpinned by strong Black Friday and festive season trade". In a trading statement for the 52 weeks to 25th June 2023 the company estimated that HEPS would increase by between 25% and 35%. The company said, "The WHL Group disposed of its David Jones operations, effective 27 March 2023, being the end of the third quarter of the Group’s 2023 financial year. Turnover and concession sales from continuing operations (i.e. excluding David Jones) increased by 10.8% for the year and by 9.3% in comparable stores". We recommended that you consider the share when it broke up through its long-term downward trendline. This occurred on 4th May 2021 at a price of 4927c. It has since recovered to 7660c. The current P:E is around 14,58 and the share still appears to have good upside potential.by PDSnetSA0
#JSEWHL - Caution Rising Wedge- WHL has had a strong rally from thr R58 swing low and has reached swing high last seen in February this year.., - Momentum seems to be slowing and price is tested the rising 20ema. - Failure to take back the highs could see a fade to the 200dma A rising wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. It is characterized by a chart pattern which forms when the market makes higher highs and higher lows with a contracting range. When this pattern is found in an uptrend, it is considered a reversal pattern, as the contraction of the range indicates that the uptrend is losing strengthShortby Trader-Dan2
WHL 2 hour bullish ChannelWHL has reached the bottom of its bullish Channel providing a good Risk entry @ 77.70 expecting a move back up to 82.50 over the next few weeksLongby T2TWELL0
TARGET on Woolies hit at R64.00 next target R70.93 - SMC M Formation formed on Woolies. Broke below the trendline and the signs were all bearish. 21>7 Price >200 Target R64.00 which it hit. But now it looks like there is upside to come due to SMC. SMC (Smart Money Concepts) First we look for LOL (Levels Of Liquidity). This is where there is strong volume of buying or selling from the big boys. We can see three LOLs. 1. 200MA -which the price is now above and could stay above 2. Previous support level 3. Hammer to the upside and Change of Character (reversal to uptrend) New target with SMC is R70.93 The probability of the trade idea is low because we are fighting the greater trend that is down, but it's worth looking at with SMC. Longby TimonrossoUpdated 2
Woolworths: Time for Bears to ChargeWoolies has been in a strong uptrend but recently has come against the following factors: 1. Time - it has been 26 weeks since it began an uptrend, quite long basing on history. 2. It has a building negative divergence on RSI14 (not shown here). 3. It is forming a swing high on daily & weekly time frame. 4. As price rose, volume decreased indicating there might be some stop losses triggered that pushed price up. A weekly swing high confirmation is a good place to enter short while more risk accepting can do so on a daily time frame. After a pullback around 8-10% price can attempt another shot at higher price but major trend will be down.Shortby runyamhereUpdated 1