WOWWF: Woolworths Limited down 42% in the last 12 months

267 8 12
Woolworths Limited (ASX: WOW) Australia’s largest supermarket
Recent events affect WOW: Jobs cut (1200), lower sale, earnings downgrade and suffering due to a low Australian dollar             .

TA Reference: Wyckoff market cycle: http://static.safehaven.com/authors/ticker/20654_large.png
This analysis bases on Wyckoff theory to identify stock phases.
Reanalysed & Simplified by MichaelTran (base on what I see)
Comment: WOW is currently in mark-down phase and still in level of bearishness this provides short oportunity. Ultimate low is ahead, will provide a good opportunity to buy and hold when company's financial statements are positive.

Thank you for your reading.

Note: Historical data is limited in this chart, ultimate low level may be different and in this case I dont use (P/E) ratio and (PEG) ratio to determine overvalued stock http://www.investopedia.com/terms/o/overvalued.asp
Very nice analysis Michael. Might become an interesting long soon.
+1 Reply
hi Ivan, nice to see you in my post, this is weekly chart, I think good entries might be next year.
+1 Reply
IvanLabrie PRO MIchaelTran
Probably, agreed.
You have great charts. I don't use this symbols for trade. but your graphical chart is so good.
+1 Reply
MIchaelTran PRO PooyaSalehipour
Thank you, I like your charts too. I just found out another wrong word "peak"- not "pick" 0_o!! sry about my English
+1 Reply
PooyaSalehipour MIchaelTran
your background color is look like old paper that you draw on there. somethings like we are trading in 1910 ;)
+1 Reply
MIchaelTran PRO PooyaSalehipour
ah, because I like some vintage old guys in this trading view , they re awesome. :)
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wrong title, it is WOLWF - not WOWWF. :|
additional reference: http://www.investwithalex.com/timing-the-stock-market-part-3/
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