My guesstimate is this: large numbers of buyers (incl funds) were on standby watching WOW SP fall and fall and fall. The graph since late August tells the story. Undoubtedley some players were also shorting the stk. Then we had the long-heralded BIG presentation on wednesday where the new CEO laid bare his medium term plans for Woolies. Thursday was bad for world mkts with Greece playing its usual games and SP initially continued down. Downtrend continued for 1st hr on thursday then someone strted buying. rapidly the volume grew along with sharp rise in SP. People wanted-in and were afraid to miss out. I got toogreedy and was hoping we'd hit 23.... but with CEO stating10% growth per annum over the next several years is the objective... well that was enough to satisfy buyers. In addition the yeild/PE ratio/other fundamentals were compelling. IMO it would require Australia to go into a depression to ensure WOW goes below $22. recent monthly consumption/retail figures were also positive for Woolies.
Question is: For those still wanting to buy WOW when should they make their move? I wish i knew.
wow!!!, page-41
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Last
$29.85 |
Change
0.210(0.71%) |
Mkt cap ! $36.46B | |||
| Open | High | Low | Value | Volume |
| $29.73 | $30.00 | $29.70 | $56.28M | 1.873M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7 | $29.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $29.97 | 7929 | 1 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| WOW (ASX) Chart |