Woodside Energy Jumps 5.43% To 16.30 On Technical Breakout

Woodside Energy (WDS) surged 5.43% on June 13, 2025, closing at 16.3 with above-average volume of 1.4 million shares, breaking key resistance levels. This analysis evaluates technical signals across multiple methodologies.
Candlestick Theory
The June 13 bullish engulfing candle—closing near the session high (16.3) after opening near the prior close (15.46)—signals strong buying momentum. This pattern follows a hammer formation on June 9 (low: 14.94, close: 15.01), which established intermediate support near 15.00. Resistance now shifts to the yearly high of 16.32 (January 21), while support consolidates at 15.50 (June 11–12 consolidation zone) and 15.00 (psychological level reinforced by the April–May base).
Moving Average Theory
The 50-day MA (approx. 15.20), 100-day MA (approx. 14.90), and 200-day MA (approx. 15.80) demonstrate bullish alignment. Price remains above all three averages, confirming a sustained uptrend. The 50-day/100-day golden cross in May 2025 preceded the current rally, and the 50-day’s ascent above the 200-day reinforces positive momentum. Recent price behavior shows consistent respect for the 50-day MA as dynamic support.
MACD & KDJ Indicators
The MACD histogram shows broadening bullish momentum, with the fast line (12-day EMA) accelerating above the slow line (26-day EMA) and signal line. KDJ oscillators (K: ~85, D: ~80, J: ~95) enter overbought territory, suggesting near-term exhaustion risk. However, the MACD’s persistent uptrend and absence of bearish divergence imply underlying strength. KDJ readings above 80 for multiple sessions warrant caution but do not yet indicate reversal.
Bollinger Bands
A volatility expansion occurred as price breached the upper band (20-day SMA + 2σ) during the June 13 breakout, following a contraction phase in early June. This signals continuation potential, though closes outside the band historically precede short-term consolidation. The mid-band (20-day SMA near 15.60) now serves as primary support, with any retest likely attracting buyers.
Volume-Price Relationship
Breakout volume on June 13 (1.4M shares) exceeded the 20-day average by 65%, validating the upward move. This contrasts with the June 9 decline on heavy volume (2.5M shares), which capitulated near support (15.00). Consistently higher volume on up-days (e.g., May 13 +5.34% on 1.46M shares) versus down-days confirms accumulation. Sustained volume >1M shares would bolster trend continuation.
Relative Strength Index (RSI)
The 14-day RSI (~75) registers overbought, echoing KDJ warnings. However, RSI has remained above 60 since the mid-May uptrend inception, reflecting persistent bullish momentum. Historically, RSI readings >70 in WDS (e.g., January 2025) preceded brief consolidations rather than reversals. Traders should monitor for bearish divergence but recognize overbought conditions can persist in strong trends.
Fibonacci Retracement
Applying Fib levels to the swing low of 12.10 (April 10, 2025) and high of 16.32 (January 21, 2025): the 61.8% retracement (14.71) supported the May-June consolidation, while the 78.6% level (15.65) was breached on June 13. The next logical target is the 127.2% extension (17.47). Pullbacks should find Fibonacci-based support at 15.65 (prior resistance) and 15.00 (50% retracement of the recent rally).
Confluence and Divergence
Significant confluence exists at 15.50–15.65, where the 50-day MA, Bollinger mid-band, and Fibonacci 78.6% level align with the June 11–12 consolidation. This zone offers robust support. Bearish divergence emerges only in oscillators (RSI/KDJ overbought), countered by confirmatory signals from MACD, volume, and moving averages. The breakout above 16.00 invalidates bearish setups, though overextended oscillators increase near-term pullback probability to recharge momentum.