Woolworths Group Limited (WOW.ASX)

2 July 2018

Technical Summary: The chart of WOW over a 5 year period is a chart of two halves. For the first half the stock was locked in a long term downtrend. For the second half the stock has begun what looks like an uptrend. This can be seen on the one year chart above where followers will notice a series of higher lows and a couple of genuine base breakouts. The stock itself is overextended in the short term and we would wait for it to put in another low or consolidate before looking to initiate a position.

Stock sitting overextended after good run within an uptrend

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