Our ALGO engine triggered a sell signal on WOW on November 2nd at $26.05.
Since then the share price has lifted over $1.00 as speculation continues surrounding the ACCC’s decision to reject BP’s offer to buy WOW’s 500 petrol station network.
You're not a member! Trial today
A potential “triple top” formation is in play in the $27.70 range and we suggest exiting long positions for now.
CFD traders can look to sell WOW on our SAXOGo Platform in the $27.30 area with an initial target of $26.15 and a $28.10 stop.
Woolworths
