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Actionable news in WFM: Whole Foods Market, Inc.,

Whole Foods Bullish Harmonics Signal


Shares of Whole Foods Market (WFM - Get Report) have been trading in a clearly defined cyclical pattern and a Fibonacci sequence measured off their 2008 low, which suggests the stock price is headed higher over the short term and could potentially close a long-term price gap.

A Fibonacci grid using two types of Fibonacci tools is overlaid on the weekly chart. The dark vertical lines are Fibonacci time lines, and they mark the number of trading days in the well-known number sequence, in this case, initiating at the 2008 low. The resulting Fibonacci points highlight important lows in the stock price and would have been good long entry points. The stock made its most recent low at day 144 in the sequence which...