What lies before you is something I call the "Triangle of Death," and it's likely lead the high-end food retailer to lower lows.
WFM: One-year Chart
Obviously all of the genius technicians are going to tell me how stupid I am, how could I have missed the obvious head and shoulders top with the neckline at $50.
OK, I got that, but I like my chart better. There is nothing bullish about the price action, any way you draw the lines, especially when you consider the S&P 500 is back near all-time highs.
Whole Foods is one of the few retail stocks down on a day when the SPDR Retail ETF (XRT) (of which WFM is a component) is up nearly 2%.
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