Ask The Trader: What To Do With Whole Foods (WFM)

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Nancy from Santa Ana, CA writes:

“Whole Foods is my favorite stock as well as my favorite supermarket.  I’m nervous about the big drop, but I do want to be a good long term holder.  How would you play the company here?”

Whole Foods (WFM) has broken the Support Zone between $40 and $42.  It looks set to retest that zone (now Resistance) from below.  I would leave it alone unless it can re-establish a long structure (higher highs and higher lows).