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Online Share Trading

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Woolies

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Terence_1
New Contributor
what's up with his stock?
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13 REPLIES 13
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This stock was doomed from 26 Jul '07 when it broke the neckline of its large head & shoulders pattern and I don't see it recovering before we eventually hit a range of 14.50 - 15.00, this may take some time but I believe we'll get there.
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theyve given a warning about tougher trading conditions going forward... unlike skippy Ive taken this as a buying opp on whlsta
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CHATTYCHAT
Super Contributor
Don't know about the technical stuff, but from all comments it seems to lose value until 1600cps. I placed a buy order @ 1685cps for today. That 1400 cps low mentioned here is a shocker. Nothing from WHL themselves will justify that low? Market correction? If so, this only shows what the sub prime sindrome actually comes to: when you expect value, the carpet has already been pulled from under your feet.
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CHATTYCHAT
Super Contributor
My mistake, missed this in their AGM report: In South Africa, higher interest rates and increasing food prices will reduce consumer spending and expectations are that the growth in retail sales will be significantly lower than the past few years. Must say: several typos in the report and it is not really clear what they wanted to say the effect of thier BEE share scheme would be.
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Didn't see that trading update Tribalzone. Just to clarify, I'm not in the share at the moment(long or short). It's just my opinion and I do think it's possible to see bounces along the way but I'm a technical trader and I think we'll see 14.50 to 15.00 in the coming month or two. Definately with another rate hike.
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john_1
Super Contributor
Went shopping at woolies yesterday could not believe that a roll of toliet paper was costing over R4 a roll... only 2 squares each in my house from today!
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Yeah, I agree, but (and theres always a but:) right now its very oversold, they are still coming out with increased profits and i only see it going below R15 if they start reporting decreased profit/sales.Its a cyclical share and the christmas perios is usually a good one for woolies. I think the next major news for it will be when the news starts reporting on how consumer spending goes in december.
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the real problem with this counter is that as soon as the so called experts rated it a buy it plummeted....
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Terence_1
New Contributor
it was 1600 last year this time... not sure what price to seel at..
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..and fifty-five bucks for a flattie! I mean, c'mon, might as well drive down a guinea fowl an s*****e it orf the bumper..
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On the longer term side of things it definetly looks like 1550c to 1600c is the level we should be looking at and I tend to agree with that. Also believe that it will get to this level quite soon. I know December is meant to be a good month but with so much negative news out there and shopping sprees apparently not going to be as strong as last year, its possible this price be achieve quite soon. OMO
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on the point of the head and shoulders...the downside target has been made so now its crunch time...we have a falling wedge which has formed during the decline and this is a potential reversal pattern but we have a very long way to go before this can be confirmed....there is a seasonality in the WHL price action which technically also plays into the probabilities....
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Samir
Super Contributor
If WHL drops much more, then surely SUI will replace it in the TOP40 index(during the next round of changes). Then, if WHL gets kicked outta the top40, then you bound to find it drop even more...
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