Price coming pressure as sellers start the move lower

New Sell Entry Alert WES

 

Time Frame : Daily/Weekly

Sector : Food & Staples Retailing

Key Stats : $58.37 Billion Market Cap, VWAP 50.906, ASX Ranking 7, 4 Week Av Turnover $116,690,163, Todays Current Turnover (intraday) $49,112,643, PE 48.6, Div Yield 4.33%.

Company Overview : Wesfarmers Limited (WES) is a diversified business operating supermarkets, department stores, home improvement and office supplies, resources, chemicals, energy and fertilisers, and industrials and safety products. WES is headquartered in Western Australia.

Broker Consensus : SELL

 

WES – Wesfarmers Limited

WES is coming under pressure after a strong run up with the ASX200 rally from the start of the year. We are now happy to sell with a push down through 50.35 and will hold the stop loss at 52.50. If price goes up through 52.50 prior to entry, we will cancel the alert and re-assess the action.

 

Stock Code : WES – Wesfarmers Limited

Company Website : www.wesfarmers.com.au

Current Price : 50.81

New Sell Entry Level (Trigger Level) : 50.35

Potential Buy Exit Zone (Stop Loss) : 52.50

Status : On watch for a Sell entry trigger