WFM (Whole Foods Market, Inc.) at 71.00 RSI Bearish Divergence Signals Potential Topping (Intraday SELL)

WFM probed below the 70.69 low to confirm the RSI bearish divergence from the 72.76/72.85 highs which are short of the 73.33 all time high. While the 72.85/73.33 key resistance zone caps, scope remains for further weakness towards 69.04 (Support 1) then 66.51 (Support 2). A downside break there would confirm the lower high at 72.85 and initiate the next leg down towards 64.37 near the 6-1/2-week trendline support (Support 3).

However, recycle strength above 72.85 would negate and stop out the trade.

Trading Indication:
Short-term (Intraday): Sell at 71.50 or higher;
Target at 66.51 and lower;
Stop Loss at 72.85 (2.0%)
Long-term: Possibly buy lower