Woolies Under Pressure

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

By Nick Linton-Ffrost

Emerging Sell

Woolworths ((WOW)) appears to be trading within a 4th wave structure between 35.00 and 36.50 which should be followed by a move south to 34.25 over the next month.

We suggest looking for sell signals over the next 1-2 weeks between 35.00 and 36.00. Our best guess will be the formation of a bearish triangular pattern.

Trading above 36.50 for more than three days negates our view.

Trading tactics

Wait.
 

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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