Wesfarmers Ltd (ASX:WES) Downgraded as Company Turns Political
The Company’s segments include Coles; Home Improvement; Department Stores, which includes Kmart and Target; Office Works; Industrials, which includes Resources, WIS and WesCEF, and Other.
Wesfarmers has fallen in to a dangerous trap, becoming political in Australia. Wesfarmers owned Target (not the USA Target) has been slammed with a massive boycott.
On Target’s Facebook page, Vettie Marr wrote: “I look forward to Target having a CHRISTIAN woman wearing a large CRUCIFIX as we wouldn’t want Target discriminating and only promoting one religion would we?”
Sonia Stephenson chimed in: “Australia is ‘multicultural’, can we please see other sectors also represented in your advertising?” to which Target replied: “Thanks for taking the time to share your thoughts with us Sonia! We always aim to be inclusive with our advertising, whether it’s in relation to age, gender, ethnicity or people with a disability.” but the company did nothing.
WESFARMER FPO SE closed down -0.020 at 41.480. Volume was 62% below average (consolidating) and Bollinger Bands were 52% narrower than normal.
Open High Low Close Volume___
41.200 41.530 41.200 41.480 876,514
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 41.79 41.58 42.04
Volatility: 8 17 21
Volume: 1,791,486 2,044,155 2,321,636
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
WESFARMER FPO SE is currently 1.3% below its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume out of WES.AX (mildly bearish). Our trend forecasting oscillators are currently bearish on WES.AX and have had this outlook for the last 3 periods.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 34.8147. This is not an overbought or oversold reading. The last signal was a sell 17 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 44.17. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 51 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -110.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 14 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 8 period(s) ago.