Triathlete
Keep it Simple..!
- Joined
- 10 November 2014
- Posts
- 638
- Reactions
- 88
This is the scenario that I am hoping will play out now.One more move down as shown on your chart before heading back up towards the highs.Only time will tell!!
Hi Triathlete,
I see one scenario that could develop, as it would look better if that long term trendline is reached https://www.aussiestockforums.com/forums/showthread.php?t=15355&p=859904&viewfull=1#post859904
The entire structure could develop a 3-3-5 Flat, but the ~29 bottom is an ultimate target here.
But probably it is just a bearish judgement which is a consequence of the decline and my limbic system tries to resist the fact that trend has changed and it is looking for alternatives instead of focusing on uptrend. I personaly think that 29 bottom will not be breached. I am looking forward to even slightest opportunity to buy WOW taking more risk than usuall.
View attachment 61703
While I find the Elliot Waves views interesting, I personally think they are a bit "hindsight" and it would appear that even Elliot Wavers can apply different interpretations as to what waves apply to the same charts.
While I find the Elliot Waves views interesting, I personally think they are a bit "hindsight" and it would appear that even Elliot Wavers can apply different interpretations as to what waves apply to the same charts.
In my opinion, if you consider the Woolworths price movement for the past two years in respect of their growth and profitability, the only way you can explain a 20% price drop is negative feedback from analysts, guiding a herd driven sell off. Woolworths is still the market leader in the Groceries and alcohol retail sector (and hotels). Coles was a mess, was taken over and is making big inroads in improving their act and market share (realistically they only had one way to go) however, their gains have not been at the Woolworths expense.
The analysts that drove the share sell off pushed the share price down to a level where other analysts told their clients to buy (gotta love this game). Now the share price is climbing back to where it is only 10% down on previous levels and another quarterly report is due.
Personally I don't see the share price "waving" down to sub $30.00 new lows. I suspect that , while the report may show a slowing growth, profitability will be at acceptable levels due to "price deflation" maintaining margins combined with a reduction in costs through improved in-store efficiencies. You would think that this, in a period of reduced public discretionary spending, is more likely to be well received by analysts than not.
I suspect a share price climb to the range $34.50 to $35.50 is more likely than a leg down to sub $30.00. Then again I'm not a financial adviser and second guessing analysts is even harder than second guessing the market. As always do your own research and good luck.
I'm not interested in WOW at present, but if I were looking for some guidelines and sensible analysis, I'd be going for Nulla Nulla's remarks.
Up $0.84 as I type ($34.16) on solid turnover. Curiously Wesfarmers went ex-div today but is down $0.35 more than the div.
Maybe someone has leaked the WOW report?
Hi nulla nulla, ....
When they do not understand why stock is not "reacting" to report and earnings as it supposed to, they just simply blame someone else........
...I am also exited when almost every post is ending with "I am not a financial adviser", "do you own research" and similar. It's like an excuse to your own opinion, which you think is most likely wrong, so the post is wrapped in a probability frame that author can get out dry of the water later.
Sorry if you find this a bit rude, but I just love when people concoct using market fundamentals as a basis for their entry/exit points or direction overall.
In WOW case I found very funny the fact that analysts issued sell recommendation and the market indeed crashed. And when it crashed, they(analysts) predicted(again) that WOW profit will slide until 2017, that was close to the WOW bottom of $29. And even on this forum everyone took it very seriously...now when WOW started a new bull wave, analysts are ducks again....It is just never ending fun
I also note that most predictions have an "either/or" perspective and a little caution.
I'm not sure every one took the profit slide projections of some analysts seriously as other analyst were projecting a recovery at the same time.
I don't allocate "blame" I simply trade the opportunities that arise from market movements driven by herd mood swings.
That's the note from technician, and the words "herd" and "mood" are the fundamental basis of wave principle. I just wondering that maybe you are the undercover eliotician
People using fundamental analysis deny the influence of the mood and the herd to them is the thing that can be manipulated with reports, analysts and news. Like a stick in the wind-it leans where the wind blows. Elioticians on the contrary understand that market is the wind, and the rest is the stick. .
Anyyway, I missed two great stocks to buy at the bottom- BHP and WOW. They won't offer return I am seeking if I buy them now, so unless a big correction sets in, I'll leave them.
Nulla - do you think Wesfarmers were brought down due to WOW's result? Seems the most plausible that the market is pricing in slower growth.
Down 9.4% to $30.75 today.
Starting to look juicy.
Might be something more than just the negative report for Woolworths.?
I guess I see the "market" more as the movement of the herd rather than as the "wind" or the "stick".
Woolworths however seems to present recurring opportunities every time it issues a sales update followed by their half yearly or full year reports.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?