Trading Energy? This is what Woodside could do. | Michael Gable | Finance News Network

Trading Energy? This is what Woodside could do.

by Michael Gable

This weekly chart shows the WPL uptrend being broken back in October last year and then retested the following month. At the moment there appears to be some short term strength in WPL which could see it rally up towards the mid $36’s. However, if it fails at that point (bearing in mind the lack of support once it trades ex dividend in February) then we could see WPL trade towards the 2012 lows near $30. Longer term holders may consider writing covered calls on any rally leading into the ex dividend date in order to try to and hedge some of that downside. 

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