It now seems the correction from the 2015 peak has finished. That correction took the form of a bullish Flag formation, ie. a 'healthy' pause in a solid uptrend.
The correction ended with a neat Inverse Head and Shoulders formation accompanied by a significant increase in volume after the 'Head' was in place (a bullish signal).
In my view, therefore, we have a significant low in place at $1.05 in May 2016 (the base of the 'Head') and the uptrend has since resumed with a vengeance. We are now probably off to test the all-time highs at $2.00.
The acquisitions of the last few years have converted Webster from a humble walnut grower into a major force in Australian agriculture, with an attractive and complementary portfolio of assets (water, walnuts, cotton and livestock).
Exciting times ahead for WBA, underpinned by a weaker $A and solid international demand for its products.
WBA Price at posting:
$1.52 Sentiment: Hold Disclosure: Held
