Our ALGO engine triggered a buy signal for WOW on Monday at $27.45.
This “higher low” pattern is referenced to the $26.40 low posted on April 20th.
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WOW shares have been drifting lower for the last two months and are now consolidating in the $27.30 to $27.60 range since going ex-dividend for 60 cents last week.
With the current share price trading at 22x earnings, we see the stock as good value above the $27.00 level.
WOW was added to our ASX Top 20 model portfolio on August 22nd. Our medium-term target is $29.40
Woolworths
