WES.AX breaks below prior session low

Wesfarmers Ltd (WES.AX) Technical Analysis Report for Jul 13, 2018


WES.AX finds support at 20-day moving average
WES.AX breaks below previous session low

TQ Sentiment

Report Sentiment:
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.


WES.AX ended the week -2.22% lower at 49.25 after losing A$0.24 (-0.48%) today. Closing below Thursday's low at 49.38, the market confirms its breakout through the prior session's low having traded A$0.33 below it intraday.

Daily chart for WES.AX


Friday's trading range was A$0.44 (0.89%), that's far below last trading month's daily average range of A$0.65. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.


Prices are trading close to a key support level at 48.83. Prices are trading close to the key resistance level at 49.73. After trading as low as 49.05 during the day, the share found support at the 20-day moving average at 49.10.


Although the stock is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Order Flow

Buying could speed up should prices move above the close-by swing high at 49.73 where further buy stops might get triggered. Selling could accelerate should prices move below the nearby swing low at 48.83 where further sell stops might get activated.


While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Wesfarmers Ltd

Loading Market Conditions for $WES.AX (Wesfarmers Ltd)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Wesfarmers Ltd traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!