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. 

Disclaimer

Disclaimer: Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.
 

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