ALGO Update: Stay Long Woolworths

Our ALGO engine triggered a buy signal for WOW on August 23rd at $28.25.

Since then, the share price has has traded in a relatively narrow range between $28.80 and $28.20.

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The technical picture has improved and internal momentum indicators are now in oversold territory.

We see good support in the $28.00 area with an upside target near $30.00 over the medium-term.

WOW goes ex-dividend for 50 cents on September 13th with a special dividend of 10 cents, for a total of 60 cents.

Woolworths

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