Emerging Buy In Woolworths

This story features WOOLWORTHS GROUP LIMITED. For more info SHARE ANALYSIS: WOW

By Nick Linton-Ffrost

Emerging Buy

Woolworth' ((WOW)) break and pull back to the trend line may provide us with a long trade over the next week.

If WOW finds a foot hold around 36.00 we suspect that will be enough to confirm the trend line break and open up targets between 38.20 and 39.00.

Before opening longs we suggest waiting for a higher low to form above 35.50 while a few days trading below 36.00 negates our view.

Trading tactics

Wait for buy signals between 35.80 and 36.50 over the next week.

Another trading idea from

Fifth Wave | fwtc.com.au                                               

FW generates over 150 Trading Alerts on the ASX100 each year. We are a subscription service specialising in short term technical strategies based on 27years experience.

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