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AI Analysis of WOW.AX
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Woolworths Group Limited stock upgraded to Hold/Accumulate.
(Updated on Mar 28, 2024)

Hold candidate since Mar 28, 2024 PDF

The Woolworths Group Limited stock price gained 0.485% on the last trading day (Thursday, 28th Mar 2024), rising from $33.01 to $33.17. During the last trading day the stock fluctuated 0.95% from a day low at $33.07 to a day high of $33.39. The price has risen in 5 of the last 10 days and is up by 1.59% over the past 2 weeks. Volume fell on the last day by -109 thousand shares and in total, 3 million shares were bought and sold for approximately $96.40 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $33.36 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -14.71% during the next 3 months and, with a 90% probability hold a price between $26.59 and $28.46 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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WOW.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 4.54%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Woolworths Group Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $33.31. On a fall, the stock will find some support from the short-term average at $32.44. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Woolworths Group Limited stock

Woolworths Group Limited finds support from accumulated volume at $32.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.315 between high and low, or 0.95%. For the last week the stock has had daily average volatility of 1.12%.

Our recommended stop-loss: $31.79 (-4.15%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (WOW.AX) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Woolworths Group Limited to open at $33.21, and during the day (based on 14 day Average True Range), to move between $32.71 and $33.63, which gives a possible trading interval of +/-$0.458 (+/-1.38%) up or down from last closing price. If Woolworths Group Limited takes out the full calculated possible swing range there will be an estimated 2.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $33.20 (0.09%) than the support at $32.90 (0.81%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Woolworths Group Limited stock A Buy?

Woolworths Group Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.847 Hold/Accumulate Upgraded

Predicted Opening Price for Woolworths Group Limited of Tuesday, April 2, 2024

Fair opening price April 2, 2024 Current price
$33.21 ( 0.116%) $33.17

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for WOW.AX

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 33.52 1.07 %
R2 33.40 0.702 %
R1 33.33 0.478 %
Current price: 33.17
Support S1 33.09 -0.247 %
S2 33.01 -0.471 %
S3 32.89 -0.83 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 36.19 9.10 %
R2 33.50 0.99 %
R1 33.20 0.0904 %
Current price 33.17
Support S1 32.90 -0.81%
S2 32.65 -1.57%
S3 32.39 -2.35%

WOW Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 28, 2024 Feb 28, 2024 Feb 28, 2024 $0 0%
2 Aug 31, 2023 Aug 31, 2023 Aug 31, 2023 $0.580 1.52%
3 Mar 02, 2023 Mar 02, 2023 Mar 02, 2023 $0.460 1.27%
4 Aug 31, 2022 Aug 31, 2022 Aug 31, 2022 $0.530 1.47%
5 Mar 03, 2022 Mar 03, 2022 Mar 03, 2022 $0.390 1.14%

FAQ

What is the symbol for Woolworths Group Limited Stock and on which exchange is it traded?
The symbol for Woolworths Group Limited is WOW.AX and it is traded on the ASX (Australian Securities Exchange).

Should I buy or sell Woolworths Group Limited Stock?
Woolworths Group Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

How to buy Woolworths Group Limited Stock?
Woolworths Group Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Woolworths Group Limited Stock.

What's the current price of Woolworths Group Limited Stock?
As of the end of day on the 2024-03-28, the price of an Woolworths Group Limited (WOW.AX) share was $33.17.

What is the 52-week high and low for Woolworths Group Limited Stock?
The 52-week high for Woolworths Group Limited Stock is $40.35 and the 52-week low is $31.70.

What is the market capitalization of Woolworths Group Limited Stock?
As of the 2024-03-28, the market capitalization of Woolworths Group Limited is 39.551B.

When is the next earnings date for Woolworths Group Limited?
The upcoming earnings date for Woolworths Group Limited is Aug 22, 2024.
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About Woolworths Group Limited

Woolworths Group Limited Woolworths Group Limited operates retail stores. It operates through Australian Food, New Zealand Food, BIG W, and Other segments. The Australian Food segment procures and resells food and related products, and provides services to customers in Australia. It operates 1,076 Woolworths supermarkets and Metro Food stores. The New Zealand Food segment is involved in the procurement and resale of food and drinks, and provides services to customers in ... WOW.AX Profile

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