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WOW $30.91

**** wow technical downside from here

  1. Mikee_88

    346 Posts.

    WOW is currently $11.12. The stock will go ex-div on 27/3/03 for 18 cents. effectively $10.96, ex div currently.
    Technically the stock has been in a clear down trend channel (see daily candlesticks chart) and the last 2 trading days with 2 Black Candles are indicative of bearish momentum beginning to take over and a likely re-test of the recent low around $1065-10.70 soon. A break beneath the $10.65 support should see it towards the lower end of the channel. around $10.50.


    Initial stop loss $11.42.

    Buy April $11.25 Put options @ $.46
    Sell April $10.50-11.50 Call Spread $.66 - .12 = $.54 Cr

    Interestingly, the resurgence of CML today gave no support to the WOW price perhaps indicating some switching by institutions which further adds weight to the trade.

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