Perhaps a good company but it's too expensive in my book... It's priced for around 20% growth compounding forever but it's not realistic. I suspect that any growth will be well received for the next couple of years.
Apache022,
I'd suggest that it's not much of a higher low until the price moves above the preceding high.
A couple of rules of thumb that I've come across (that fit most of the charts that I look at) have made me rather bearish... - As a trend progresses the retracement percentages diminish; and - A 50% retracement is a good indication of a reversal
BHP and ANZ are good examples if you want to run the ruler over a couple of stocks. In the case of WOW compare the 38% retracement with all of the other retracements leading up to the high... BHP also found support at close to a 38% retrace after the 2007 high. It then went on to test the high, reversed, and will continue to crash imo. WOW doesn't seem to have rallied hard enough to test the high and this is just my opinion but I wouldn't be holding out for a double top or higher highs... the top is in and lower lows are coming.
WOW Price at posting:
$25.35 Sentiment: None Disclosure: Not Held
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