Dizzy,
I've been short WOW for five months now and had a taget price of 10.69 (with a potential 9.49). My current trailing stop is 11.11 - quite short really because WOW is looking like it's due for a bounce to me. Quite heavily oversold in the short term I think.
My longer term view is that there is not huge upside potential for players in the supermarket industry given the increasing competition and the significant over-capitalisation in the industry (on the eastern seaboard in particular.) I know that woolies is more than food and liquor but I could not call a rosier picture for retailing in general than I could for food and liquor retailing right now.
In summary, consolidation following a small bounce to above 11.00? That sound about right?
regards,
-HBG
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Open | High | Low | Value | Volume |
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8 | 1117 | 34.900 |
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Price($) | Vol. | No. |
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34.960 | 503 | 5 |
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