Whole Foods Market (NASDAQ: WFM) Stock May be About to Stage a Rally

Shares of natural foods supermarket operator extraordinaire Whole Foods Market (NASDAQ: WFM) have been in near free fall since topping out in October. Yet, the price action since May looks much more constructive, and the stock has built an important base to push higher. 
At the same time, the chart is flashing a positive divergence between momentum and price. In other words, the bullish signs for a rally are there.

On July 30 after the close of trading, Whole Foods reported quarterly earnings that beat analysts' expectations, yet missed top-line estimates by a smidge. Third-quarter earnings per share (EPS) rose 8% year over year to $0.41 versus an expected $0.39. Revenue of $3.38 billion just missed estimates of $3.4 billion, but was up 10% from the year-ago quarter. Same-store sales were up 3.9%. (more)

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