Let's not forget that Royal Dutch Shell still want to offload their stake. As soon as the share price gets into the high $40s, I reckon Shell will make their move.
So, until that is out of the way I can't see the share price getting above $50 for quite some time.
That doesn't mean, though, that Woodside is a bad investment. Shell have other ideas. Shell prefer to exploit third world counties with little or no environmental regulations. After all that is how they became the world's wealthiest company at one stage.
On long term trends, I see Woodside continuing a downward trend until at least 2014. Then by 2016 their will be a sustained upward trend for many years to come.
Let's not forget that Royal Dutch Shell still want to offload...
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Last
$28.59 |
Change
-0.150(0.52%) |
Mkt cap ! $54.53B | |||
| Open | High | Low | Value | Volume |
| $29.00 | $29.04 | $28.59 | $162.1M | 5.649M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2996 | $28.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $28.62 | 1783 | 1 |
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| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| WDS (ASX) Chart |