Wait for Confirmation.
Taking a brief look at WHL, it appears that the price is holding support at slightly above R52.00.
The MACD is showing imminent signs of a Bullish crossover, after a short retracement.
I would ultimately like to see a close above R54.65 for confirmation of what already looks to be a Short/Mid term Bullish trend.
A fall (close) below R52.00 would likely see further price depreciation back toward the recent low of R49.85.
* With Christmas around the corner, Woolies is a consumer favourite for gifts ranging from quality foods to branded clothing.
My point is that sentiment for Woolies brands during the festive season is likely to be high.
** Some other shares to consider would be Clicks & Shoprite (for their variety).
I'm happy to put some of these retailers in my "back pocket" and await Q1 2022 results.
The MACD is showing imminent signs of a Bullish crossover, after a short retracement.
I would ultimately like to see a close above R54.65 for confirmation of what already looks to be a Short/Mid term Bullish trend.
A fall (close) below R52.00 would likely see further price depreciation back toward the recent low of R49.85.
* With Christmas around the corner, Woolies is a consumer favourite for gifts ranging from quality foods to branded clothing.
My point is that sentiment for Woolies brands during the festive season is likely to be high.
** Some other shares to consider would be Clicks & Shoprite (for their variety).
I'm happy to put some of these retailers in my "back pocket" and await Q1 2022 results.
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