Technical Summary: The 1 year chart of WOW is probably a fairly accurate reflection of the nature of its business – a large and slow moving supermarket chain. The stock has spent most of the year on a slow moving uptrend hugging its 50 day moving average. More recently the stock has gone largely sideways before pulling back strongly on heavy volume. The stock now approaches a key area of support. Depending on how you view this chart this could be viewed as a buying opportunity if it holds or a selling if it breaks. Either way there is not much to do now until either scenario starts to play out. Stepping back to the 5 year chart. 2015 and 16 was a pretty miserable year for shareholders with the stock stuck in big down trend from around $38 per share to around $20. This was on the back of fundamental competition from international supermarkets as well as the looming Amazon threat, who is often the Gorilla in the room.
