On August 23rd, shares of WOW traded as high as $27.75. The current price of $24.60 is over 11% lower in just over a month.
Yesterday the ACCC announced that it will delay its final decision on BP’s proposed $1.8 billion acquisition of WOW’s 527 petrol station sites.
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This delay isn’t a bullish factor for the company, but we expect the deal to get over the line and support the share price.
Technically, there is a support level in the $24.20 area which dates back to January of this year. This support level could be tested in the near-term.
Woolworth’s
