Wesfarmers Ltd (ASX:WES) HEFFX Highlights

Wesfarmers Ltd (ASX:WES) HEFFX Highlights

Wesfarmers Ltd (ASX:WES) HEFFX Highlights

  • Wesfarmers boss Richard Goyder is going out on a high, taking home a record $12 million pay packet for his final full year at the helm of the retail conglomerate.
  • The bumper pay packet brings the AFL commission chairman’s total remuneration since his appointment as Wesfarmer’s managing director in 2005 to just under $100 million, when adjusted for inflation.
  • Wesfarmers, which owns Coles, Bunnings, Kmart and Officeworks, last month reported that its full-year profit jumped 27 per cent to $2.87 billion.
  • The company’s annual report released on Wednesday shows Mr Goyder’s pay more than doubled in 2017 to $12.09 million, up from $5.5 million in 2016 when his bonus was docked for missing profit targets.

Wesfarmers Limited is engaged in various business operations, such as supermarkets, liquor, hotels and convenience stores; home improvement; office supplies, and an industrials division with businesses in chemicals, energy and fertilizers, industrial and safety products and coal. 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. Coles is a supermarket retailer, which operates over 770 supermarkets. Bunnings is a retailer of home improvement and outdoor living products in Australia and New Zealand. Kmart is a retailer with approximately 210 stores throughout Australia and New Zealand. Target operates a network of over 300 stores and sells a range of products for the contemporary family, including apparel, homewares and general merchandise. Officeworks is a retailer and supplier of office products and solutions for home, business and education.

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are ranging.

The projected upper bound is: 42.08.

The projected lower bound is: 40.04.

The projected closing price is: 41.06.

WESFARMER FPO SE closed down -0.140 at 41.070. Volume was 52% below average (consolidating) and Bollinger Bands were 3% wider than normal.

Open       High           Low          Close        Volume
41.310      41.390      40.910      41.070      1,053,006

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period       50-period    200-period
Close:                       41.45              41.37             42.15
Volatility:                10                   16                   18
Volume:                   1,741,571      1,978,175      2,188,353

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.

Summary

WESFARMER FPO SE is currently 2.6% 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 volume flowing into and out of WES.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on WES.AX and have had this outlook for the last 5 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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 43.3883. This is not an overbought or oversold reading. The last signal was a buy 1 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 42.21. 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 sell 24 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 -74. This is not a topping or bottoming area. The last signal was a buy 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 11 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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