Once again, Woolworths is at the 200 moving average on the 2 Day chart with a buy signal activated on the MACD indicator (Top of chart). The last two times this has provided a great buying opportunity for long term investors. Could history repeat itself?
I am not holding WOW and I will wait for confirmation to add WOW to my portfolio. For me, the confirmation is when we can break with a strong buying volume and close above the GREEN line.
In contrast, when Woolworths drop and close below the purple line then this buy setup is NOT ACTIVATED.