1.98 per cent down today as of now. http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=WOW
Yeah my dad keeps telling me to buy Woolies - truth is its not the same company it was 5 years ago. I would buy if it stopped going down so much
i also want to get in but still remember being burned buying uk woolworths, 28 will convince me to pull the trigger.
Had a bounce off $30 Very uneasy so far about this 'swing low' holding in the longer term. Merrill Lynch's lead retail analyst reckons $25! Thinks WOW will have to sacrifice margin to get turnover up. Expects asset write-downs, more investment requiring equity raising. [imgz=http://forums.silverstackers.com/uploads/1893_wow_dec_4.gif][/imgz]
dont worry fin..... soon you can see the 'smiley face' pies on their freezer plus welcoming the acquisition of china liquor business
10 Dec 2014 - Closed at $29.880 Low 29.71 Still trending down. http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=WOW
Yes $30 was a level of multi-year resistance - took four years and 3 attempts before WOW broke above $30 in 2013. Should have served as some degree of support. Needless to say, not buying yet.
What do you think of the fundamentals long term? Considering they now have to deal with the likes of Costco and Aldi?
Today's almost 3% rise is not depicted on this WOW monthly chart yet, but even without that the candles are bullish looking. Namely a hammer candlestick, then a bullish engulfing candlestick. The tail of the hammer candlestick extends down to a level of previous resistance and support, so $29 zone has arguably been tested and after which the price rebounded?
Six weeks on and back to $29 area again. WOW rallied another 6% after previous comment but then undid the entire 2.5 month upleg in just 3 days. Now narrowing to a point of decision (small daily chart). Small indecisive candle today. Doesn't look promising after such a steep retracement. 5 year monthly 2 month daily [imgz=http://forums.silverstackers.com/uploads/1893_wow_dly_2_mth_mar_16.gif][/imgz]
You think it's getting close to a buy? I'm thinking about it for a relative who wants some income shares and the price is starting to look pretty attractive. It's enough investment to make buying in staggered lots to catch a good average a practical option so maybe this is a good entry point? Is it lower on specific news?
The day of the first drop was 27 Feb, the day WOW issued Interim Report To me it's a gamble here as chart has not shown immediate direction. One chartist Michael Gable reckons it'll haul up between $28 and $29 and there'll be time to buy. He's occasionally wrong though. Very undecided right now myself, and anyway hands are tied and can't buy shares right now. A tactic like staged buying in 'parcels' doesn't seem unreasonable from here, or maybe a stop loss somewhere under $29 or even $28 for someone more sophisticated (not me) Keep in mind dividend ex date. There's some confusion about this but if you go by the ASX site's information, 'ex' date is tomorrow therefore today is last day to pick up dividend and tomorrow will produce a big drop that might take out many stop losses? Probably fall more than the dividend.
I will join the crowd if SP is in $25. I will take it as buying an oz silver+$5 spot. Always spend $$ on their supermarket...may as well join the club to get some returns back.... IF ......