Woodside Petroleum Limited (WPL.ASX)

10 November 2017

Technical Summary: After a pretty uninspiring year for WPL the stock has recently kicked up aggressively. The stock now sits overextended and looks to be starting to consolidate around recent areas of resistance. Due to the power of the recent move we would be looking for an opportunity to the buy the stock if it forms a solid base during this consolidation period. Prior to this the stock has had a difficult 5 years and is trading below where it was 5 years ago. It will be interesting to find out whether this recent move to the upside is the start of a larger long term move. The danger here is that it peters out like similar rallies the stock has made in the past. For now at least the signs are good.

Recent power move puts the stock in an intriguing spot

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