Whole Foods Plummets: A Technical Look

shares were trading lower by $4.50 (9.7 percent) at $43.22 in Thursday's session. The catalyst for the decline is a Q2 report that beat for EPS, but missed on revenue. The issue was tagged in after-hours trading and continued in the pre-market session as low as $40.90. Off the open, it found support ahead of that level, only reaching $41.03 before staging a rebound. It quickly rebounded to $43.85 before meandering above and below the $43 level since 10 a.m. ET. The Street had been leaning in the right direction way ahead of the disappointing report. In late February, the issue peaked at $57.57 and traded to its lowest level ($47.10) on Wednesday before rebounding to close at $47.72. Today's decline is taking place on much higher than average volume. So far, it has traded 26 million shares vs. its 20-day average of 5.6 million shares with over an hour remaining in the session.