Whole Foods Market (WFM) Falls Further As It's Water-Logged And Getting Wetter

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Whole Foods Market ( WFM) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Whole Foods Market as such a stock due to the following factors:

  • WFM has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $135.6 million.
  • WFM has traded 3.6 million shares today.
  • WFM traded in a range 203.6% of the normal price range with a price range of $1.29.
  • WFM traded below its daily resistance level (quality: 204 days, meaning that the stock is crossing a resistance level set by the last 204 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

EXCLUSIVE OFFER: Get the inside scoop on opportunities in WFM with the Ticky from Trade-Ideas. See the FREE profile for WFM NOW at Trade-Ideas

If you liked this article you might like

This Walmart Concept Just Saw the Most New Visitors in Over 3 Years

Boeing Flies Dow to Another Record Close, S&P 500 and Nasdaq Miss Out

Cramer: Market Rushes to Refill Its Glass

Why Amazon Is Building a Second Headquarters Worth $5.5 Billion

Walmart's War With Amazon Is Becoming Comical In One Way