WPL – Woodside Petroleum Ltd

These extracts from my trading diary are for educational purposes only and should not be interpreted as investment or trading advice: Terms of use

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Code:

Company Name:

Sector:

Size:

 Confirmed Trend:
 

WPL

  

Woodside Petroleum Ltd

  

Energy

  

ASX Top 50

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Commentary:

With two closes below the up trend line on a weekly chart, Woodside Petroleum has confirmed a down trend. 

As WPL works well with trend lines, ideally we will see two closes above a new down trend line for the down trend to be wrong.  However as a fail safe, a close just above the previous peak at $50.00 would signal the down trend was wrong.

Click the chart below to enlarge:

Previous Trend Changes:

Nil

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January 29, 2010  Tags:   Posted in: Research On Australian Stock Trends

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