Michael **le of Fairmont Equities reckons that with a chart like below, he is ready to make a sell rec on WES:
Chart: Share price over the year
We previously warned about a threat from a resurgent Woolworths and increased competition. With the chart showing WES was unable to sustain a rally in good times, it was sold off heavily several weeks ago. There’s a little support at recent levels, providing an opportunity to sell into a short term bounce. Once support breaks here, we’re looking at WES hitting our previously mentioned downside target of $34. The shares were trading at $41.41 on November 23.
wes chart, page-48
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Last
$68.42 |
Change
0.780(1.15%) |
Mkt cap ! $77.60B | |||
| Open | High | Low | Value | Volume |
| $68.59 | $68.75 | $68.21 | $65.14M | 950.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2988 | $68.42 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $68.46 | 3234 | 1 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| WES (ASX) Chart |