WFM Approaches a Near-Term Breakout

The Whole Foods Market, Inc. (WFM) near-term technical set-up is poised for upside acceleration, if it can hurdle and sustain above key-August resistance at 39.07/11.

This should trigger a breakout from the August round-corrective action in the aftermath of the late-July earnings debacle.

Should such a breakout emerge, WFM will make a b-line for a test of its August 5 high at 40.45 next.

Only a failure to hurdle and sustain about 39.11, followed by a decline that breaks 38.44/40, will compromise the timing of the next advance in WFM.