Technical analysis from Wesfarmers (WES.AX, ASX:WES.AX) on the Australian Stock Exchange (ASX). Download the latest price data & trading signals

Wesfarmers
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Open/close reversal: Sellers were in control for all the trading day for Wesfarmers
Open Tod Vs Close Tod /
Open/close reversal: Sellers were in control for all the trading day for Wesfarmers

[BEARISH STRONG]: Wesfarmers opened in the upper part of daily range at 100% & closed in the lower part of the trading range at 6.9%. This suggests the sellers were in control all day. Over the last 12 months there has been 37 trading days with the opening price in the upper shadow & the closing the price in the lower shadow giving a confirmation ratio of 14.1%. Over the last month there has been 2 trading days with the opening price in the lower upper range & the closing the price in the lower price range giving a confirmation ratio of 16.7%.

[Downtrend]: Recent trading for WES confirms bearish WMA(5) signal
Weighted Moving Average /
[Downtrend]: Recent trading for WES confirms bearish WMA(5) signal

[BEARISH]: Wesfarmers currently has a confirmed downtrend. Recent trading has caused the WMA 5 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on WMA5 is -1.2%.

Closing Price /
[Bearish]: Wesfarmers has failed to beat previous close by -1.2 %

[BEARISH]: Wesfarmers current downtrend in the first timeframe. Currently, the Close is $47.29.

Ease of Movement /
Price dipped caused by low volume trading for Wesfarmers during last trading session

WES: EOM Current Signal -> (1) 19 Jun: BEARISH EASY (2) 18 Jun: BULLISH EASY (3) 15 Jun: BULLISH EASY

Average Directional Movement /
Wesfarmers: ADX(48.13) has signalled a strong trend is current

[Trend]: ADX for WES has confirmed a strong trend is present. Wesfarmers has an ATR(14) of 0.669, a DX of 48.44 & an ADX(14) of 48.13

Range Tod Vs Range Yest /
Wesfarmers: Range Performance (33.8)

[BEARISH]: Wesfarmers sellers are increasingly eager. This is the first day sellers have increasing eagerness for WES adding strength to a downtrend in the first timeframe. The biggest price range this month has been $3.3100 & the greatest daily price range this year has been $8.0900. The price range ratio this week versus the quarterly price range is 0.3x & the price range ratio this month versus the year to date price range is 0.4x.

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Aroon Oscillator /
Wesfarmers: ARO(92) has signalled a strong uptrend is current

WES: Aroon Oscillator Current Signal -> (1) 19 Jun: BULLISH STRONG (2) 18 Jun: BULLISH STRONG (3) 15 Jun: BULLISH STRONG

Limit order for a short position has been identified for Wesfarmers [Bearish]
Pivot Points /
Limit order for a short position has been identified for Wesfarmers [Bearish]

Wesfarmers current pivot point is: 47.54. The current resistance levels are: (R1) $47.85: (R2) $48.41: (R3) $48.72: The current support levels are: (S1) $46.98: (S2) $46.67: (S3) $46.11

The MACD continues to rise above the signal line for WES [Bullish]
MACD /
The MACD continues to rise above the signal line for WES [Bullish]

[BULLISH]: Wesfarmers currently has positive MACD of 0.1503. This means the signal line is greater than the MACD line signalling a bullish movement. Currently, the return on MACD is 2%.

Fibonacci Extensions /
[Short]: Exit price for WES should be set @$2.05

Wesfarmers: The current Fibonacci Extension levels are: (23.61%) $0: (38.2%) $0: (50%) $0: (61.8%) $0The current support levels are: (78.6%) $0: (100%) $0: (138.2%) $0: (161.8%) $0: (261.8%) $0: (423.61%) $0

Opening Price /
WES opening price of $48.1 (-0.6 %)

[BULLISH]: Wesfarmers opening price has gapped up. Currently, the OPEN is $48.1 (-0.6 %).

Momentum /
Wesfarmers currently has positive momentum of 0.33

[BULLISH]: Wesfarmers currently has positive momentum of 0.33. This means the current price is greater than the price 5 days ago and therefore gaining momentum. Currently, the return on momentum is -1.2%. The largest upward momentum rally for the last 3 months is 16 days producing a return of 6.1%.

Wesfarmers: 2nd timeframe trend Uptrend remains intact
Medium Trend /
Wesfarmers: 2nd timeframe trend Uptrend remains intact

[BULLISH]: Wesfarmers is in an uptrend in the medium term timeframe. The current rally number is 67 & the highest rally count for the LTM is 90. The highest rally for the month is 12

The CCI indicator for Wesfarmers is still above the overbought limit
Commodity Channel Index /
The CCI indicator for Wesfarmers is still above the overbought limit

[BEARISH]: Wesfarmers current trading has maintained the Commodity Channel Index to overbought status and signalled the continuation of the bearish trading conditions. Currently, the CCI is 118. The bearish signal has been active for 0 day. During the quarter, the highest CCI value was 294.

Volume /
Volume for WES has surpassed the volume of the previous trading session

[BULLISH]: Wesfarmers current volume uptrend in the first timeframe. Volume for WES is 2.31487e+006 (40.8).

MACD Volume /
Wesfarmers: Volume MACD oscillator (73525)

WES: Volume MACD Current Signal -> (1) 19 Jun: BULLISH (2) 18 Jun: BULLISH (3) 15 Jun: BULLISH

Elder Ray Index /
Prices are being driven above the consensus of value for WES [Bullish]

[BULLISH]: Wesfarmers Elder Ray Index is signalling a Bullish movementERI is 1.381 indicating bull power. Prices are being driven above the consensus of value for WES during the last trading session [Buying Pressure]

Trading for Wesfarmers highlights the commitment of sellers to carry positions overnight.
Close Tod Vs Range Tod /
Trading for Wesfarmers highlights the commitment of sellers to carry positions overnight.

[BEARISH]: Wesfarmers sellers in control. There has been 2 consecutive days of prices closing in the lower part of the trading range for Wesfarmers adding strength to an downtrend in the first timeframe & highlights the lack of commitment of buyers to carry positions overnight Over the last 12 months there has been 81 trading days with the closing price in the lower part of the range giving a confirmation ratio of 30.8%. Over the last month there has been 5 trading days with the closing price in the lower range giving a confirmation ratio of 41.7%. Currently this quarter, closing price has spent 19 days in the lower price range compared to 15 days in the upper range giving a ratio of 1.3x.

Wesfarmers: Confirmation of stock accumulation
On Balance Volume /
Wesfarmers: Confirmation of stock accumulation

[BULLISH]: Wesfarmers current price has highlighted recent accumulation. Currently, the OBV is 1.80129e+007.

Closing price for Wesfarmers has seen sellers continue to win the daily battle for performance @ -1.2%
Close Tod Vs Close Yest /
Closing price for Wesfarmers has seen sellers continue to win the daily battle for performance @ -1.2%

WES: Recent performance signals ->(1) 19 Jun: NEUTRAL (2) 18 Jun: NEUTRAL (3) 15 Jun: BULLISH

Chaikin Money Flow /
Wesfarmers: CMF has confirmed bullish relationship between price & volume

[BULLISH]: Wesfarmers current price has highlighted recent buying pressure and the continuation of a bullish trading conditions. Currently, the CMF is 0.1. WES received a confirmed CMF crossover days on the May 14 2018. The bullish signal has been active for 0 day. During the quarter, the highest CMF value was 0.16 occurring on the May 14 2018.

Accumulation / Distribution /
Accumulation still active for Wesfarmers

WES: ADLINE Current Signal -> (1) 19 Jun: BULLISH (2) 18 Jun: BULLISH (3) 15 Jun: BULLISH

Sine Weighted Moving Average /
Wesfarmers is in a short term downtrend with the closing price @$47.29

WES: SWMA Recent Trading -> (1) 19 Jun: 47.468 (2) 18 Jun: 47.268 (3) 15 Jun: 46.949

Moving Average Envelope /
Envelope bands Oversold signal is still current for Wesfarmers [Bullish]

[BULLISH]: Wesfarmers current trading has maintained the Envelope Bands to oversold status and signalled the continuation of the bullish trading conditions. Currently, the Lower Band is 43.548.

A short term Pivot Reversal has formed with Wesfarmers
Pivot Reversal /
A short term Pivot Reversal has formed with Wesfarmers

[BEARISH]: A short term Pivot Reversal has formed with Wesfarmers which confirms the presence of a bearish bar reversal. Over the last 12 months there have been 13 occurrences of this bar reversal giving a signal probability of 4.9%.

Wesfarmers: Stoploss for short position should be set at $48.348
Woodie Pivot Point /
Wesfarmers: Stoploss for short position should be set at $48.348

Wesfarmers has broken the first Woodie support point ($46.856) [Bearish]. Look for a short limit order entry near this point. Exit price for WES should be set @$46.608 & short position stoploss for Wesfarmers should be set at $48.348

Stochastic Oscillator /
Stochastic overbought signal has just been neutralized for Wesfarmers

WES: Stochastic Oscillator Trading -> (1) 19 Jun: 67.1 (2) 18 Jun: 84.9 (3) 15 Jun: 93.6

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