Trade Woolworths with Unum Capital.
To get started, email lester@unum.co.za
Overview: When we look at the short-term price action over the last 7 days, we see a clear weakness. This is confirmed by the 14-day trend, which shows aggressive selling. Essentially, the price has been steadily declining over the past two weeks.
Medium Term Outlook: The medium-term picture is still bearish, but with a caveat. We're seeing persistent weakness, but there's a glimmer of hope. If the price can reclaim the prior session's lows, it could signal a potential bullish reversal. However, we need to monitor this closely on lower time frames to confirm any such move.
Long-Term Perspective: The long-term trend is also bearish. We need to wait for the price to stabilize on the lower time frames before we can reassess. Until then, the outlook remains cautious.
WHL is facing headwinds across all time frames. What should investors be watching for? Investors should keep a close eye on the price action on lower time frames. If we see a sustained break above the prior session's lows, it could signal a potential shift in the trend. However, until then, caution is warranted.
Lester Davids
Analyst: Unum Capital
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