Woolworths has 10% upside from here - Bottom of uptrend Channel.
High to medium probability that WOW trades back up into middle of uptrend channel and tests recent highs.
Nota
The 2018 high of $31.44 has now broken through, & its likely that this level acts as strong support. Wow at this point I have to say is looking technically strong. Also, its worth mentioning that WOW is up well over 50% since new management took over in 2016, and it looks like management have delivered again with their recent market announcement - business consolidation, particularly around BIG W which has weighed on the stock for decades. With this in mind, and the fact that BIG W could be sold entirely, the next target for WOW as it heads higher is the top of the uptrend channel around $34 -$36.Nota
Top of uptrend channel target ($34) reached a little quicker than I thought. Shares have fallen sharply since WOW's buyback came to a close. Any news on BIG W will likely be the next catalysts for WOW's share price direction. For the time being I expect weakness to continue as investors reassess their investment thesis. This is the last time I comment on this trade. Good luck all!Dagangan ditutup: sasaran tercapai
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.