Potential outside week and bearish potential for WOWDetected 03-May (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 03-May.
ASX:WOW represents a potential bearish opportunity should momentum continue and newer lows be made. Trade is further supported by a volume spike noted on 02-May and a gap-down noted on 02-May.
Entry conditions:
(i) lower share price below the level of the potential outside week noted on 02-May.
Stop loss for the trade would be:
(i) above the high of the candle of the gap-down on 2nd May (i.e.: above $30.90), or
(ii) above the swing high of 1st May (i.e.: above $32.27), once trade activated, depending on risk tolerance.