Long Term Investing - Here is a buy setup in Woolworths $WOW
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.
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.
Trade active:
Green line 35.23. I'll round it to $36.