Looking at a Head and Shoulders Pattern. Whole Foods Market WFM Prior Trend since 2008 has been amazing, now looks to good to be true. First target is 76.33 and next target 64.00. High end grocery store chains have become saturated. Time to jump ship.
@nmike found the H&S
With little capital you could take a big risk and buy deep out-of-the-money long puts for May. I have a limit order for 70 puts with a trade of less than $250. If WFM were to hit my second target a week before expiration, that trade would be worth more than $23,000. 64.00 or lower is not unrealistic at this point, especially if the market were to correct by 10%. A correction of that magnitude would multiple the bearish trend already established by WFM.
Whole Foods reports earnings May 7th after the market close.
@nmike found the H&S
With little capital you could take a big risk and buy deep out-of-the-money long puts for May. I have a limit order for 70 puts with a trade of less than $250. If WFM were to hit my second target a week before expiration, that trade would be worth more than $23,000. 64.00 or lower is not unrealistic at this point, especially if the market were to correct by 10%. A correction of that magnitude would multiple the bearish trend already established by WFM.
Whole Foods reports earnings May 7th after the market close.