Woodside Shares Readying to Target $38

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This story features WOODSIDE ENERGY GROUP LIMITED.
For more info SHARE ANALYSIS: WDS
The company is included in ASX20, ASX50, ASX100, ASX200, ASX300 and ALL-ORDS

Michael Gable of Fairmont Equities believes Woodside Energy shares are due a major upswing.

By Michael Gable 

Although the past week was a good one for our market, everything has once again been overshadowed by Trump’s loss at the Supreme Court and the imposition of a 10% increase (no, actually, make that 15%) in tariffs.

One would hope that we have seen this movie before and we know how it ends. However, price action in the past few days is just a continuation of the rotation that we have been observing for a while now.

The NASDAQ was down overnight, but gold, base metals, and oil have been heading higher in the past week. The headlines of “buying opportunities” in Aussie tech which seemed to be all over the place a week ago has already faded from view along with their share prices.

Our advice to our readers has not changed and that is we should avoid the temptation of these tech stocks for now and stay focused on being overweight hard assets.

Having said that, the local banks are showing some good signs of recovering, we had some charting analysis these past few weeks on some of those, and that along with our resources, should see the Australian share market hold up well compared to the US.

Today, we offer a technical view on Woodside Energy ((WDS)).

We looked at the WDS chart on 30 December when it was trading at $23.08 and noted that “we expect WDS to now head back towards the top of the range near $27 where we can then reassess for the possibility of a major breakout.”

Now that it has rallied to the top of that range, we can see that it is starting to break out to higher levels.

This means that WDS is a buy here and we expect a significant rally higher.

There will be some resistance near $30 and then we expect it to go on to retest the recent peaks near $38.

Initial stops can be considered back near $25.50.

Content included in this article is not by association the view of FNArena (see our disclaimer).
 
Michael Gable is managing Director of  Fairmont Equities (www.fairmontequities.com)

Fairmont Equities is a share advisory firm assisting Private Clients with the professional management of their share portfolio. We are based in the Sydney CBD but provide services to private clients across Australia. We believe that the concepts of fundamental analysis and technical analysis of stocks are not mutually exclusive. Regardless of whether you are a trader or long term investor, combining both methods is crucial to success. As a result, the unique analysis of Fairmont Equities is featured regularly in the media such as Sky News Business, CNBC, The Australian Financial Review, and the ASX newsletter. Contact us for a free trial of our research and information on our portfolio management services. 

Michael is RG146 Accredited and holds the following formal qualifications:

• Bachelor of Engineering, Hons. (University of Sydney) 
• Bachelor of Commerce (University of Sydney) 
• Diploma of Mortgage Lending (Finsia) 
• Diploma of Financial Services [Financial Planning] (Finsia) 
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2

Disclaimer

Fairmont Equities Australia (ACN 615 592 802) is a holder of an Australian Financial Services License (No. 494022). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.
 

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