Wesfarmers Limited (WES.ASX)

20 March 2018


Technical Summary: The stock of WES is probably the most range bound stock that we have ever reviewed in our technical corner. The one year chart is an extension of the five year chart with the stock just bouncing along within a tight trading range. More recently the stock has got extremely volatile. The stock gapped down twice to the bottom of its trading range. The stock then attempted to consolidate for a few weeks before gapping right back to near the top of the trading range again. At the moment it is a difficult stock to get a read on from the chart. At the current juncture it is difficult to action from both a trend and a mean reversion perspective.

One of the tightest long-term trading ranges that you will see.

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