Worley is looking like a great buy
I have had a look at the March lows dated from 2006. This looks like the floor for the year in the month of March with quick uptrends till June EFY. Sometime in March ( if not the first week of Feb 2010 will be the cyclic floor for WOR)
A Two year inverted head and shoulders has formed with a strong chance of a breakout to the $34 area over the next few months. To obtain this a break of the aqua downtrend line will need to happen first.
The black horizontal line has been over the 4 years a great support and resistance area.
Top 2006
Low 2007 & gap up
Consolidation 2009 June
Support 2010 March
The White Andrews Pitchfork lower tyne will also be a support in this area.
The 40EMA ( medium term MA ) has broken down the 200EMA ( longer term MA) which is bearish but a possible consolidating area for MAs. NB the Pink and Black lines on the chart are the reference for the MAs
Buy March sell June for the short terms. 30% reward if history plays out from the current share price. Target June 2010 $34......yep I am bullish!!
Appreciate any comments and thanks, spider always DYOR
inverted head and shoulders
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Last
$14.43 |
Change
-0.150(1.03%) |
Mkt cap ! $7.612B | |||
| Open | High | Low | Value | Volume |
| $14.65 | $14.69 | $14.43 | $24.88M | 1.719M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 14984 | $14.43 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.50 | 1000 | 1 |
View Market Depth
| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| WOR (ASX) Chart |