I agree with your comment regarding IAG - this is why I said in my original post that a move above $4 would confirm the positive technical picture that I presented.
It is certainly true that WOW has been in a down trend for a shorter period of time than IAG. As I said, IAG has been a DOG stock since it hit its high back in early 2007.
However, using your criterion for a downtrend - lower lows and lower highs - WOW is in a down trend since 13 December. That's over three months. Have a look at the chart. It is not going sideways.
Other technical features which suggest that WOW is in a down trend are:
1. It is below the 50 day ema. 2. It is below the 200 day ema. 3. The weekly MACD is negative. 4. The monthly MACD is negative.
That last one is the clincher for me. The monthly MACD turned positive back in August, 2004. The share price was then about 12 dollars. It has been in a long up trend since then until last month. The monthly MACD turned negative in February.
The monthly MACD gives very good long term buy and sell signals and they rarely occur in a stock - but when they do - they are usually reliable.
Cheers Red
ASX Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
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