Woodside Petroleum has now sold off $2.00 since making a high of $33.37 on the 7th of November.
After having a recent profitable trade in WPL, we again look to the buy side on further price retracement and view $30 – $30.75 as a low risk entry level.
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Shell has announced the sale of 71 million shares or 8.5% of WPL’s register. Shell’s ownership will be reduced to 4.8%. The consideration will be approximately A$2.2billion.
Woodside
