time for shorts ???

WOW could be due for a retrace

Reasons
Recently WOW has been doing a 14 day cycle from tops to bottoms ,

On Friday at the top of this 14 day cycle w.o.w. has made a second attempt to break back up through through $12.37 (double top ) and looks to be failing after hitting some old resistance at $12.20 established on 21.11,

this does look like half the trading range as well (weekness)


Now sitting at an extreme high point on the bollinger bands
volume looks to be dropping off

From London Stock Exchange

Name WOOLWORTHS

WLW Bid Offer Price Change Chg% High

* 31.50 31.75 31.50 -0.50 -1.55 32.00

Low Last close
31.25 31.50



Exchange rate 2.59516 AUD to 1 British Pound

WOW close on FTSE …31.50 British Pounds divided by A$2.59516 = A$12.13 close in A$


Hypothetical trade only
All based on T/A and the closing price in London no ASX reports read


This post is meant for discussion, not abuse if you hold truckloads of WOW